HP violated mandatory disclosure rules when it failed to come clean in company 8Ks about the reason that shareholder Tom Perkins left the board of directors. Perkins, a noted venture capitalist and an old-school Don of Silicon Vally hardly needed the HP board berth to pad his extensive resume.

As you may recall, Perkins left his seat to protest HP's spying on himself, other board members and various journalists.

HP top brass, including former CEO Patricia Dunn believed Perkins to be the source of media leaks that were hampering the company. In response Dunn, HP's general counsel, outside counsel Wilson Sonsini and a cadre of investigators and subcontractors initiated what came to be known as Kona II, an investigation that included surveillance, pulling trash and obtaining phone records under false pretenses.

There are no "teeth" to the SEC's settlement with HP. The company simply double-promises not to violate disclosure rules in the future. No penalty was assessed.

For further background on the HP shenanigans - that is, if you're not totally sick to death of the story - check out the tags below.

-- MDT

Labels: HP, Kona II, Patricia Dunn, pretexing, Wilson Sonsini