Defendant Name: HP Inc.

Defendant Type: Public Company
SIC Code: 3571
CUSIP: 40434L10

Initial Case Details

Legal Case Name In the Matter of HP Inc.
First Document Date 30-Sep-2020
Initial Filing Format Administrative Action
File Number 3-20112
Allegation Type Issuer Reporting and Disclosure
AAER 4183

Violations Alleged

Exchange Act
• Rule 12b-20
• Sec 13(a)
• Rule 13a-1
• Rule 13a-13
• Rule 13a-15
Securities Act
• Sec 17(a)(2)
• Sec 17(a)(3)

Resolutions

First Resolution Date 30-Sep-2020
Headline Total Penalty and Disgorgement $6,000,000

Related Documents:

33-10868 30-Sep-2020 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On September 30, 2020, the SEC instituted cease-and-desist proceedings against HP Inc. The Commission stated: "This matter concerns HP’s failure to disclose between November 2015 and June 2016 material information regarding its print supplies channel inventory2 management and sales practices. During that period, certain regional managers at HP undertook undisclosed sales practices to increase quarterly operating profit, leading to an erosion of profit margin and an increase in channel inventory, while failing to disclose known trends and uncertainties associated with the conduct."
2020-241 30-Sep-2020 Press Release--Administrative Proceeding
SEC Charges HP Inc. With Disclosure Violations and Control Failures
The SEC "announced charges against technology company HP Inc. for misleading investors by failing to disclose the impact of sales practices undertaken in an effort to meet quarterly sales and earnings targets. HP has agreed to pay $6 million to settle the charges."