By | John Oates 25th October 2010 15:10

Hurd fingered in HP bribe case after probe

Ghost of HP bribe allegations follows Hurd to Oracle

Mark Hurd, former chief executive of HP, has been named in a court case brought against the ink giant.

The case concerns allegations that HP paid bribes to secure US government contracts. Documents claim Hurd, now at Oracle, won $97m in contracts thanks to the illegal payments.

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Ten other directors are named and accused of failing investors by "rewarding Hurd for his conscious decision to allow HP employees to engage in illegal activity".

The case has been brought by Saginaw Police & Fire Pension Fund, a big HP shareholder. It accuses Hurd and others of failing in their fiduciary duties to shareholders, the Wall Street Journal reports.

HP paid the US Department of Justice $55m to end its investigations into dodgy payments.

HP faces a similar investigation by German regulators probing a deal between HP and the Russian Prosecutors' Office. The money was allegedly channelled through HP's German subsidiary.

HP is still being probed by the Securities and Exchange Commission and the Department of Justice over the Russian claims. ®