HP to pay US$6 million fine to settle SEC charges

HP to pay US$6 million fine to settle SEC charges

HP Inc agreed to pay a US$6 million fine to settle U.S. Securities and Exchange Commission charges it misled investors by failing to disclose the impact of sales practices it used to meet quarterly sales and earnings targets, the regulator said on Wednesday.

FILE PHOTO: To match Special Report SEC/INVESTIGATIONS
FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst

REUTERS: HP Inc agreed to pay a US$6 million fine to settle U.S. Securities and Exchange Commission charges it misled investors by failing to disclose the impact of sales practices it used to meet quarterly sales and earnings targets, the regulator said on Wednesday.

The company did not admit or deny wrongdoing in agreeing to the civil settlement, the SEC said.

(Reporting by Jonathan Stempel in New York; editing by Diane Craft)

Source: Reuters

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