SEC settles with HP over disclosure violation

NEW YORK (CNNMoney.com) -- The Securities and Exchange Commission has settled charges against Hewlett-Packard for not disclosing the reason for a director's resignation amid a board-level investigation into company leaks last year, according to a release Wednesday from the commission.

The SEC said HP (Charts, Fortune 500) was required to disclose why board member Thomas Perkins, who had objected to a decision to ask another board member to resign, stepped down from the board.

The commission said HP consented to an order that it no longer violate the disclosure requirement. HP did not admit or deny the commission's findings, according to the release.