WSJ reports HP is suing its former CEO Mark Hurd, claiming his new position at Oracle is in violation of his severance agreement.
On Monday, H-P sued Hurd in California Superior Court in Santa Clara, Calif. Click here for the complaint. The gist of the claim claim: that in the course of his duties with Oracle, Hurd will inevitably disclose H-P’s trade secrets and confidential information, in violation of his severance agreement.
“Mark Hurd agreed to and signed agreements designed to protect H-P’s trade secrets and confidential information,” an H-P spokeswoman said. “H-P intends to enforce those agreements. ”
Reads the complaint:
Despite being paid millions in cash, stock and stock-options in exchange for Hurd’s agreements to protect HP’s trade secrets and confidential information . . . following his departure . . . from HP, HP is informed and believes and thereon alleges that Hurd has put HP’s most valuable trade secrets and confidential information in peril.