Congressmen question HP chief’s stock sale | CNET News.com
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Two members of Congress want Hewlett-Packard CEO Mark Hurd to explain why he sold HP stock just prior to the company’s acknowledgement that it had spied on employees, board members and journalists.
In a letter sent Tuesday to Hurd, Reps. Bart Stupak and John Dingell, both Michigan Democrats, asked the CEO why he sold $1.4 million worth of stock options on August 25, the same day he was questioned by HP attorneys about the company’s investigation into news leaks.
The congressmen note in their letter that the sale did not seem to be part of a scheduled stock sale. Executives often arrange in advance to sell stock, and the timing of such transactions typically follows a pattern.
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