- Summary: Yesterday, the Justice Department and the FBI both announced they were involving themselves in the investigation into Hewlett-Packard (HPQ) wrongdoings. California's Attorney General Bill Lockyer is already involved in the case, stating recently that H-P definitely broke the law. The widening investigation is trying to determine whether tactics used by H-P investigators while looking into a corporate leak surrounding the former CEO's departure were illegal, and how high up the corporate ranks the illicit activity extends. Board member Tom Perkins resigned this summer over the investigation, which illegally obtained his as well as many other board members' phone records through "pretexting." H-P's board has been in around-the-clock meetings since Sunday to determine how best to deal with the affair. Speculation is that if current Chairman Patricia Dunn leaves the company, as many are calling on her to do, Perkins will retake his post on the board.
- Comment on related stocks/ETFs: For more on the unfolding H-P investigation scandal, read past WSJ summaries. Paul Kedrosky believes that the time has come for Patricia Dunn to resign.
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