The maker of expensive printer ink, HP can finally put the embarrassing antics of its former CEO Mark Hurd firmly in the past.
Hurd was dismissed for being creative with his expenses claims while trying to impress a former soft porn star, Jodie Fisher, who later complained he had sexually harassed her. Hurd later went on to be a top manager for Oracle working for his chum Larry Ellison.
Some shareholders were miffed and a few took court action over the case. The last one left was a lawsuit accusing the computer maker of securities fraud for misleading shareholders about its commitment to ethics while its chief executive was allegedly sexually harassing a soft porn star.
In August 2013, US District Judge Jon Tigar in San Francisco had thrown out an earlier version of the lawsuit, and has now dismissed a revised version that he said failed to address his concerns. The dismissal was with prejudice, meaning the lawsuit cannot be brought again and HP is free.
An internal HP probe cleared Hurd of harassment but found that he filed inaccurate expense reports and the board decided he should go.
Plaintiffs led by the Retail Wholesale & Department Store Union Local 338 Retirement Fund of Mineola, New York claimed that HP’s share price was inflated during the period of Hurd’s alleged misconduct.