HP reaches settlement agreement with DOJ
PALO ALTO, Calif. -- Hewlett-Packard Co. said Monday that it expects a settlement agreement with the Department of Justice will lower its fiscal third-quarter profit by 2 cents per share.
The settlement, which still needs to be approved, relates to an investigation of the technology company's GSA multiple award schedule contract and other allegations, all stemming from a complaint filed in an Arkansas district court in 2007.
HP said in a statement that it "denies engaging in any illegal conduct in connection with these matters."
HP shares rose 9 cents to $47.65 in after-hours trading. The stock finished regular trading up $1.52, or 3.3 percent, at $47.56.
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