The state Supreme Court is being asked to decide whether the business judgment rule, which presumes directors are acting in a corporation’s best interests, protects a decision to reward themselves with a generous stock compensation plan without fully explaining it to the shareholders.
The appellant in Seidman v. Clifton Savings Bank, A-100-09, argued Jan. 5, seeks to reinstate a suit alleging that a board of directors deceived shareholders and unjustly enriched themselves when they took the savings and loan public.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
