Hewlett-Packard's legal woes continue with shareholders now suing directors and executives for insider trading.
Basically, the lawsuit accuses the company's honchos, including CEO Mark Hurd, of profiteering by selling $38.9 million in company stock before news of a spying operation was publicly revealed in September. It also claims the board ordered a $6 billion share buyback in mid-August to keep the share price propped up.
Hewlett-Packard has responded by issuing a statement calling the lawsuit "baseless" and a " transparent effort to exploit issues related to HP's recent investigation for personal gain".
It's a predictable line, we are talking about lawyers here.
Check Hewlett-Packard's history of insider transactions over the last six months, and you decide!
no comment untill now