A $10 million bonus for Transmeta Corp.'s general counsel is "outrageous, illegal and unconscionable," according to a lawsuit. The tiny chip licensing company agreed to give GC John O'Hara Horsley a large cut of a $250 million settlement reached with Intel in October. Riley Investment, an activist hedge fund that owns about 7 percent of the company and earlier this month made an offer to buy Transmeta, filed the derivative suit targeting Horsley and other Transmeta executives and board members.
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Company Sued Over GC's $10M Bonus
The Recorder
February 12, 2008
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