HP Moves to Block Document Request

Hewlett-Packard Co. asked a Delaware Chancery Court judge to issue an order saying it doesn’t have to comply with a request for thousands of documents from dissident director Walter Hewlett.

Hewlett sued the company last week in an effort to invalidate proxy votes he says tipped the balance in favor of HP’s planned $18.7-billion acquisition of Compaq Computer Corp.

He claims the company bought votes from Deutsche Bank in exchange for part of a business loan package.

In papers made public, Hewlett-Packard’s lawyers asked Judge William Chandler III to block Hewlett’s “oppressive” subpoenas that “would involve locating, gathering and reviewing hundreds of thousands (if not millions) of pages of documents” within two weeks. “The request seeks literally every scrap of paper relating to the proposed integration of HP and Compaq” from a team of 1,000, company lawyer Robert Payson said in the motion.

Chandler will hold a hearing in Wilmington, Del., Sunday on HP’s motion to dismiss the case. He has scheduled a three-day trial beginning April 23.

Also, Hewlett-Packard disclosed in a regulatory filing that Chief Executive Carly Fiorina was paid $1 million in salary last year--the same as in 2000--but she did not receive a bonus because the company didn’t meet its financial goals. Fiorina received a $1.8-million bonus in 2000. She received an option grant for 1 million shares, down from 1.3 million shares in 2000.

HP was down 12 cents at $17.25 on the New York Stock Exchange.