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New York - US regulators are investigating Mark Hurd's departure from Hewlett-Packard in a probe namely examining a claim the former chief executive shared inside information, The Wall Street Journal reported.
HP confirmed late on Monday that a Securities and Exchange Commission probe was underway but provided no details. "HP is cooperating fully with the SEC on its investigation," the US computer giant said in a statement.
The Journal, citing people familiar with the matter, said the SEC is looking into whether Hurd passed information about HP's $13.9bn acquisition of Electronic Data Systems Corp to a former HP event hostess in 2008, before the deal was announced.
Hurd, 53, resigned as HP chief executive in August after a sexual harassment accusation by the former event contractor, Jodie Fisher, uncovered subterfuge with company expenses.
The HP investigation found Hurd had not broken harassment rules, but was in breach of the company's "standards of business conduct."
The Journal said the SEC is looking at Hurd's use of corporate expenses in his dealings with Fisher and whether he destroyed computer evidence related to his time at HP.
It added that the SEC may never bring a case against Hurd or HP.
"Mark acted properly in all respects," a Hurd spokesman told the newspaper. It is understandable that the SEC is looking into the events surrounding Mark's departure, which was followed by a precipitous drop in the value of HP's stock."
HP shares have lost around 10% since Hurd's resignation and closed on Monday at $41.89.
Hurd is now a co-president of business software giant Oracle, an HP rival.
