Defendant Name:
HP Inc.
Defendant Type:
Public Company
SIC Code:
3571
CUSIP:
40434L10
Document Reference:
33-10868
Document Details
Legal Case Name
In the Matter of HP Inc.
Document Name
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
Document Date
30-Sep-2020
Document Format
Administrative Proceeding
AAER
4183
Allegation Type
Issuer Reporting and Disclosure
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Monetary Penalties:
Civil Penalty
Individual:
$6,000,000.00
Shared:
