Hewlett-Packard Co., Computer and electronics maker, said on Monday that it had settled with the U.S. Department of Justice over alleged kickbacks. The agreement brings to an end separate investigations by the DOJ over the company’s activities, including whether it had overcharged the federal government through a General Services Administration contract, as well as a lawsuit related to False Claims Act.
The company did not disclose the terms of the settlement, and denies any wrongdoing as a result of the settlement. “In connection with the settlement, HP expects a negative impact of approximately 2 cents on third quarter fiscal year 2010 earnings per share,” the Palo Alto, Calif.-based company announced in a statement on Monday. The 2 cents per share disclosed by the firm is around $50 million in the settlement amount.
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