Two large shareholders in Hewlett-Packard (HP) filed a lawsuit this week over a severance package for former CEO Carly Fiorina, which contends that her $21.4 million severance package violated the company's policy on executive compensation. The lawsuit, filed in Federal District Court in San Francisco by the pension funds of the Indiana Electrical Workers union and the Service Employees International Union, says Fiorina's severance pay exceeded a limit shareholders approved in 2003 that restricted such compensation to 2.99 times an executive's base pay plus bonus. The lawsuit seeks to recover the money paid to Fiorina, who was forced to resign in February 2005.
GlassHouse launches storage support service
GlassHouse Technologies launched Operational Support Services (OSS), a program designed to provide medium and large sized companies with virtual teams of storage experts based in a remote storage services operations center. The company's OSS services include remote storage and backup support; managed backup and storage services; reporting performance indicators; best practices, (including Information Technology Infrastructure Library; and staff augmentation.
Credit Suisse invests in Copan
MAID array maker Copan Systems announced that the company has received $17.5 million in new investment capital. Copan's most recent Series C round was led by Credit Suisse, with existing backers Austin Ventures, Globespan Capital Partners, Pequot Ventures, Pinnacle Ventures and Horizon Technology Finance also participating. Since the company's inception, Copan has raised $56.5 million.
Transmode offers 4 GB FC extender
German network connectivity manufacturer Transmode announced the availability of a 4 GB Fibre Channel (FC) transponder for SAN extension. The new transponder allows transport of 4 GB FC circuits over the WAN and supports 1 GB, 2 GB or 4 GB FC.