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Technology Stocks : HWP -- Hewlett Packard

HPQ 27.01

-2.4%

9:30 AM EST

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To: Dave B who wrote (4632)	4/30/2002 6:09:38 PM
From: Dave B	Read Replies (1) of 4722

=DJ Hewlett Suit-5:Didn't Prove Co Coerced Deutsche Bnk Votes Judge Chandler also ruled the Hewlett parties failed to prove their second claim - that H-P strong-armed Deutsche Bank into switching 17 million of its votes at a last minute conference call on the day of the proxy vote. "The vote-buying claim turns entirely on circumstantial evidence," Judge Chandler wrote in the decision. At the trial, the plaintiffs argued that a statement made by CEO Fiorina on the conference call supported their claim. According to a transcript of the call, Fiorina told Deutsche Bank executives: "This is obviously of great importance to us as a company. It is of great importance to our ongoing relationship." The Hewlett parties said the reference to the "ongoing relationship" was either evidence of a promise of more business or a threat to take H-P's business elsewhere. Judge Chandler didn't see it that way. "That statement does not, in my opinion, demonstrate that Fiorina was attempting to coerce Deutsche Bank," Judge Chandler wrote. "Fiorina testified that the statement was the typical way she ended similar calls after making H-P's standard presentation to investors. The plaintiffs can point to nothing on those exchanges that indicates a threat from management that future business would be withheld by H-P from Deutsche Bank." (MORE) DOW JONES NEWS 04-30-02 05:27 PM

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