The Delaware Court of Chancery has dismissed the majority of derivative claims against Republic Services Inc. and its board of directors for awarding its retired CEO, James E. O’Connor, with a lucrative retirement package in addition to an employment contract, which already included a retirement bonus. However, the court allowed claims that the company’s board wasted assets by awarding themselves stock options to survive.
Vice Chancellor Sam Glasscock issued the decision on June 29 inSeinfeld v. Slager .
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