HP CEO Mark Hurd will lead the press conference at the company's Palo Alto, Calif., headquarters after U.S. financial markets close. According to a report in Thursday's edition of the Washington Post, Hurd allegedly approved a "sting" operation in February while the company was attempting to stop leaks to the media. The operation was launched after board members were suspected of leaking sensitive company information to several news organizations, including CNET and the Wall Street Journal.

The Post reported that Hurd's involvement in the leak probe, which has also included allegation of "pretexting" to improperly gain access to reporters' phone records, was uncovered in an e-mail message to HP Chairman Patricia Dunn.

The sting operation reportedly targeted Bay Area reporters. The Post story said senior HP executives conducting a leak probe created a phony company source designed to trick reporters into revealing possible leakers on HP's board.

HP hired an outside law firm in early September "to conduct a comprehensive analysis of the leak investigations," the company said. The results of the internal investigation will be discussed during the Friday news conference, Hurd said in a statement.

"What began as an effort to prevent the leaks of confidential information from HP's boardroom ended up heading in directions that were never anticipated," Hurd claimed in announcing the news conference.

A congressional panel that oversees the telecommunications industry and has jurisdiction over privacy issues will hold a hearing next week on the HP pretexting flap. The House Energy and Commerce Committee has called Dunn and other HP executives to testify along with employees of a private investigator hired by HP.

So far, the committee has not asked Hurd to appear at the hearing.