Business News
HP Announces Settlement with U.S. Department of Justice
Tuesday 03. August 2010 - HP today announced it has reached a settlement agreement in principle with the U.S. Department of Justice to resolve an investigation into HPs GSA Multiple Award Schedule contract as well as separate allegations associated with the Rille complaint filed in the U.S. District Court in the Eastern District of Arkansas in 2007. The settlement is subject to the approval of the Department of Justice, appropriate agencies and the Court.
In connection with the settlement, HP expects a negative impact of approximately 2 cents on third quarter fiscal year 2010 earnings per share. HP did not provide updated guidance for either its third fiscal quarter or the remainder of its 2010 fiscal year except for this one-time charge.
HP denies engaging in any illegal conduct in connection with these matters. HP has agreed to a settlement with the Department of Justice, without any admission of wrongdoing, in order to resolve the allegations in full.