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The government awards contracts to companies with histories of misconduct such as contract fraud and environmental, ethics, and labor violations. In the absence of a centralized federal database listing instances of misconduct, the Project On Government Oversight (POGO) is providing such data. We believe that it will lead to improved contracting decisions and public access to information about how the government spends hundreds of billions of taxpayer money each year on goods and services. Report an instance of misconduct »

Hewlett-Packard Company

Boardroom Leak Investigation (Stockholder Derivative Lawsuits)

Date: 12/14/2007 (Date of Settlement)

Misconduct Type: Securities

Enforcement Agency: Non-Governmental

Contracting Party: None

Court Type: Civil

Amount: $6,300,000

Disposition: Settlement

Synopsis: Stockholder derivative lawsuits filed in California and Delaware on behalf of HP stockholders sought to recover damages for alleged breach of fiduciary duty as a result of the activities of the boardroom leak investigation (see Hewlett-Packard instances “Boardroom Leak Investigation (California)” and ”Boardroom Leak Investigation (SEC”).) In December 2007, HP and the plaintiffs in the California and Delaware derivative actions entered into an agreement to settle those lawsuits. Under the terms of the settlement, HP agreed to continue certain corporate governance changes until December 31, 2012 and to pay the plaintiffs' attorneys' fees ($3.8 million for California counsel and $2.5 million for Delaware counsel).