Shareholder Ernesto Espinozza, says Reuters, took the case to HP because he wasn’t sure whether the board actually had the grounds to sack Hurd instead of paying him $30 million. Hurd’s golden handshake was from Lounge Lizard Larry Ellison, the Oracle boss, who immediately snapped him up after his departure from HP.
Delaware’s Supreme Court took HP’s side. HP for its part gave Espinozza board minutes, expense reports and the letter which accused Mark Hurd of sexual harrassment sent by Gloria Allred, the attorney who was looking after the case. HP argued that attorney client privilege meant there was no chance of a full investigation of the board.
Although Espinozza and the law firm, Robbins Umeda, claim to be “disappointed” about the court ruling, there is the possibility of an appeal to Delaware’s supreme court to open up the sexual harrassment letter.
It’s a win for HP which has been working much of the year to keep Allred’s letter private.
Mark Hurd, during his tenure at HP, was reportedly known as “Mark Turd”.