WILMINGTON, Del.—Hewlett-Packard chief executive officer Carly Fiorina spent part of this week on the stand in court defending her company’s actions in its planned acquisition of Compaq Computer Corp.
Fiorina and HP’s Chief Financial Officer Bob Wayman repeatedly rejected suggestions that HP embellished financial prospects of the proposed merger to sway investors.
HP board member Walter Hewlett took HP to court shortly after the shareholder vote by HP that narrowly approved the merger with Compaq. Hewlett contends that HP misled investors about the potential financial results of the merger and wants the shareholder vote overturned. The trial is set to end late this week with a decision expected next week.
HP and Compaq still currently plan to launch the merged company on May 7.
