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HP Settles Kickback Suit With DOJ

HP Settles Kickback Suit With DOJ

Dissertation Litteraire Methode Hewlett-Packard reported that it and the Department of Justice have reached a settlement in principle in a case in which HP was charged with soliciting and providing improper payments on technology contracts.

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Adding that the settlement is still subject to the approval of the DOJ, the U.S. District Court in the Eastern District of Arkansas, and “appropriate agencies,” HP did not provide a total dollar amount in the penalty, but said the settlement is likely to cost HP about 2 cents on its third-quarter fiscal year 2010 earnings. Based on the number of HP shares outstanding — more than 2 billion — the settlement could cost as much as $50 million.

Read More/Source: Information Week

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