To protect trade secrets, HP sues former CEO Hurd after joining Oracle
HP filed a civil lawsuit against its former CEO Mark Hurd on Tuesday after the executive was hired by IT giant Oracle.
"Mark Hurd agreed to and signed agreements designed to protect HP's trade secrets and confidential information. HP intends to enforce those agreements," HP's statement to the media said.
The complaint, which can be downloaded here, says that Hurd has "put HP's most valuable trade secrets and confidential information in peril," by accepting his position at Oracle, a main competitor to HP in the enterprise sector.
In the interest of keeping its trade secrets safe, HP has asked for, among other things, an injunction that keeps Hurd from assuming his position at Oracle if he could end up disclosing secrets, or basing executive decisions upon confidential information.
"Oracle has long viewed HP as an important partner," CEO Larry Ellison said in a statement addressing the suit. "By filing this vindictive lawsuit against Oracle and Mark Hurd, the HP board is acting with utter disregard for that partnership, our joint customers, and their own shareholders and employees. The HP Board is making it virtually impossible for Oracle and HP to continue to cooperate and work together in the IT marketplace."