HP, Oracle Bury Hatchet and Settle Suit

Oracle Corp. and Hewlett-Packard Co. have settled their lawsuit over Oracle’s hiring of former HP chief executive Mark V. Hurd.
HP, Oracle Bury Hatchet and Settle Suit
9/22/2010
Updated:
9/22/2010

Oracle Corp. and Hewlett-Packard Co. have settled their lawsuit over Oracle’s hiring of former HP chief executive Mark V. Hurd. HP filed the claim earlier this month against Hurd after he joined Oracle as president due to certain non-compete clauses in his exit agreement. Hurd resigned from his post as HP CEO last month following allegations of falsified expense reports amid a controversy surrounding his relationship with a female contractor. Financial terms of the settlement were not disclosed by HP or Hurd, but it is assumed that Oracle is paying a portion of the settlement. “HP and Oracle have been important partners for more than 20 years and are committed to working together to provide exceptional products and service to our customers,” said Cathie Lesjak, HP’s chief financial officer and acting CEO, in a statement. Oracle CEO Larry Ellison told reporters that his company will continue to partner with HP going forward.