Hewlett-Packard (NYSE:HPQ) has agreed to pay $425,000 to bring closure to a civil suit.
Hewlett-Packard (NYSE:HPQ) Set To Pay Civil Penalty
The computer maker has decided to pay a civil penalty of $425,000 to resolve allegations that it consciously failed to report to the U.S. Consumer Product Safety Commission (CPSC) a lithium-ion battery case.
According to CPSC, said that, “CPSC staff alleges that by September 2007, HP knew of about 22 incidents associated with the lithium-ion battery packs. At least two of these incidents resulted in injuries to consumers. HP also was aware that at least one consumer apparently went to the hospital. HP did not receive any information on the consumer’s injuries or treatment, if any. CPSC staff also alleges that between March 2007 and April 2007, HP conducted a study, from which it obtained additional information about the lithium-ion battery packs.”
Hewlett-Packard Co. (NYSE:HPQ) company shares are currently standing at 28.52.