UPDATED: Ya Hurd? HP suing former CEO in wake of news that he's co-Pres at Oracle -- via @alleyinsider [Quote]
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Our guess is that HP thinks Hurd violated some sort of non-compete by taking a job at Oracle, where he is co-President.
Silicon Alley Insider is reporting that the Wall Street Journal will report (?) that HP is planning to sue former CEO Mark Hurd following his taking a new job as co-President of Oracle.
I'm not sure why someone would risk violating a severance agreement in excess of $40M, but maybe there are more shadowy business motives here. After all, even an unsibstantiated and eventually-droppped lawsuit can dent a stock price...I'm not saying you're cheeky, H-P, but...
Source: Silicon Alley Insider
UPDATE (2:50 p.m.): According to the Wall Street Journal story, Hurd "signed agreements designed to protect H-P's trade secrets and confidential information" and "H-P intends to enforce those agreements." The WSJ article also mentions some background I should have included, in that Hurd was forced to resign after some expense account irregularities and a since-dropped sexual harassment allegation involving a contractor of H-P's.
UPDATE 2 (3:25 p.m.): I've embedded the 51-page civil filing below.


