October 5th, 2006
HP illicit spying bad? Not to Wall Street, stock at record highs
Patricia Dunn, the former Hewlett-Packard chairman at the center of a corporate espionage scandal, surrendered to authorities on Thursday, a day after being charged with four felonies, according to CNET reports:
Dunn appeared in Santa Clara County Superior Court and was ordered to appear for her arraignment on Nov. 17. She was released on her own recognizance after agreeing to go directly to the local sheriff's department to be booked. During the five-minute hearing, she said one word, "yes," after Judge Alfonso Fernandez asked her whether she agreed to the terms of her release.
In addition to Dunn, four others are charged with the same crimes: Kevin T. Hunsaker, HP's former senior lawyer; Ronald DeLia, a private detective; Matthew DePante of data-brokering company Action Research Group; and Bryan Wagner, a Colorado man believed to have been an employee of Action Research, according to the criminal filing in Santa Clara County Superior Court.
September 28, 2006, Mark V. Hurd, HP Chairman and CEO, stated, under oath, to the U.S. House of Representatives Committee on Energy and Commerce Subcommittee on Oversight and Investigations:
- We have accepted the resignations of our previous chairman and our general counsel. Other employees have left the company.
- We have appointed a new lead independent director.
- We have appointed Bart Schwartz, the former head of the criminal division of the U.S. Attorney's Office under Rudy Giuliani, to do an assessment of current practices and develop future best practices so that our processes will be without peer.
Wall Street reaction? HP stock is at record highs.
