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HP faces stock option investigation

Monday 12 March, 2007

In news which may be of interest to users of HP printer cartridges and HP laser toner cartridges, HP is facing a stock option investigation following its acquisition of Mercury Interactive Corporation.

The US senate investigation follows allegations that Mercury mishandled stock options prior to its acquisition by HP; at the time of HP announcing its purchase last July, stock options problems were already known.

A request was received by HP from a division of the US senate committee on homeland security and governmental affairs on February 26th.

"It is our understanding that they are interested in allegations that certain former Mercury officers and directors knew about and/or benefited from the practice of backdating options," said Ryan Donovan, a spokesman for HP.

In related HP news, which may be of interest to users of HP A4 superior laser paper and HP A4 photo gloss laser paper, in 2006 the firm paid $14.5 million (£7.4 million) to resolve a civil grievance relating to unfair business practices.

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