KUHN CAPITAL Monday, October 23, 2017
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Now Leaked HP Voice Mail Attracts SEC

Following last week's announcement that a US Attorney’s Office would investigate HP for improperly influencing the votes of two major large shareholders in the Compaq merger, the SEC announced today that it had requested HP to save all documents related to the transaction.

Both investigations, described as “informal”, have apparently been inspired by a leaked voice mail published online by The San Jose Mecury News. The audio clip portrays a discussion between HP CEO Carly Fiorina and CFO Bob Wayman.

In the March 17 voice mail, Fiorina told Wayman that she had talked to Alan Miller, HP's chief solicitor of shareholder proxy votes, and that Miller was nervous about how Deutsche Bank and Northern Trust planned to vote.

"So the suggestion is that you call the guy at Deutsche Bank again first thing Monday morning,'' Fiorina said.

"And if you don't get the right answer from him, then you and I need to demand a conference call, an audience, etc., to make sure that we get them in the right place."

In a recent Deutsche Bank statement, the company said that it had voted for the merger based on the "independent judgment" of its proxy committee and the "interest of its clients."


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