SEC, N.Y. attorney looking at H-P vote
Shareholder voting on Compaq deal under microscope
By August Cole, CBS.MarketWatch.com
Last Update: 9:48 AM ET April 15, 2002
PALO ALTO, Calif. (CBS.MW) -- Hewlett-Packard said Monday morning that the U.S. Attorney's Office for the Southern District of New York and the San Francisco office of the Securities and Exchange Commission are looking into the shareholder vote held to approve its tie-up with Compaq.
The company, in a statement that included the disclosures made in an 8-K filing Monday with the SEC, said it's cooperating fully.
The regional SEC office had requested documents and information about the tech giant's ties with Deutsche Bank and others as they relate to the Compaq (CPQ: news, chart, profile) merger vote on March 19.
The SEC told H-P that the request "should not be construed as an indication by the SEC or its staff that any violations of law have occurred, nor should it be considered a reflection upon any person, entity, or security."
The New York attorney's office issued a subpoena on April 10 for information about the company's relations with Deutsche Bank and Northern Trust as it pertains to the merger voting.
H-P (HWP: news, chart, profile) maintained in a statement that it never acted improperly and that it has a "long standing" relationship with Deutsche Bank.
H-P shares were last flat at $17.80 and Compaq was off 17 cents to $9.81. |
