Seidman v. Clifton Savings Bank, S.L.A., A-100 September Term 2009; Supreme Court; opinion by Rivera-Soto, J.; decided March 16, 2011. On certification to the Appellate Division. [Sat below: Judges Fuentes, Gilroy and Chambers in the Appellate Division.] DDS No. 06-1-1350 [48 pp.]
The Court considers a challenge to a corporate management stock incentive plan, and determines whether the stockholders’ approval of the plan was vitiated by a claimed failure to fully and completely disclose that the maximum stock option grants and restricted stock awards allowable to the entity’s board of directors, in fact, would be made.
