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Aug 30, 2010 7:09 PM by Greg Boyce

HP agrees to pay $55 million settlement

WASHINGTON (AP) - The Department of Justice says Hewlett-Packard has agreed to pay $55 million to settle claims it paid kickbacks to companies so that they would recommend its products to federal agencies.

Hewlett-Packard Co. has already announced earlier this month it will take a charge of 2 cents per share in the third quarter to settle the claims. The Justice Department gave the full settlement amount in a statement Monday.

HP has denied engaging in any illegal conduct in connection with the claims.

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