Anna Snider reports on Hewlett-Packard’s efforts to hold on to investors after a recent scandal
Few things could be as disturbing for a company from an IR standpoint as finding oneself at the center of simultaneous probes by the FBI, the California attorney general, US Congress and the SEC. That was the reality for Hewlett-Packard (HP) in the intense period of scrutiny following its own investigation into boardroom leaks to journalists.
The fallout from making ethical – and possibly legal – missteps to discover the source of the leaks has cost the company its chairman, three directors, its chief ethics officer, its top lawyer and thousands of damage-control hours – not to mention the bragging rights to doing things in the virtuous ‘HP way.’
Yet the share price remains essentially unchanged, holding steady near $40 per share and approaching a 52-week high. Despite all the hoopla, do investors care?
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