SEC Probing Mark Hurd's Departure from Hewlett Packard

The Securities and Exchange Commission has begun a far-reaching investigation into the circumstances surrounding former Hewlett Packard's CEO and now Oracle co-president Mark Hurd's departure, the Wall Street Journal reported.The regulator is looking into claims that he may have passed insider information to a female contractor, who later became central to his resignation from HP. […]

The Securities and Exchange Commission has begun a far-reaching investigation into the circumstances surrounding former Hewlett Packard's CEO and now Oracle co-president Mark Hurd's departure, the Wall Street Journal reported.

The regulator is looking into claims that he may have passed insider information to a female contractor, who later became central to his resignation from HP. In addition, his use of corporate expense accounts will be studied: a matter which the HP board used in its efforts to get Hurd to step down.

HP has said it's fully cooperating with the SEC's investigation.

A spokesperson for Hurd told the WSJ that it was "understandable" that the agency was looking into the matter, but maintained he "acted properly in all respects."

Both Oracle and the SEC declined to comment. It's unknown how far along the agency's investigation may be, or whether the SEC plans to file charges.

[tags]sec,investigation,probe[/tags]