The Securities and Exchange Commission (SEC) has asked HP to provide information about the timing of stock trades by its current chief executive Mark Hurd, Businessweek wrote.
It's fishy for a simple reason: the day Hurd got hired, NCR stock fell 17 per cent.
With the company just losing its star CEO, that drop could have been expected.
So the question that the SEC is asking is: did Hurd know that he was going to leave NRC when he sold his stock? If so, it could be called insider trading and lead to charges against Hurd.
HP claims that the sale occurred before the company had even engaged in talks with Hurd. Hopefully they are right. Otherwise they might need to start looking for a chief all over again.
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