California tech company Transmeta Corporation is being sued by an activist hedge fund over the $10m (£5.14m) bonus it paid to its general counsel, writes The Recorder. Riley Investment Management, which owns around 7% of Transmeta and earlier this month made an offer to buy the company, filed the suit on 31 January after Transmeta agreed to give general counsel John O'Hara Horsley a cut of a $250m (£128.5m) settlement reached with IT giant Intel in October.
February 13, 2008 at 09:38 AM
1 minute read
The original version of this story was published on Legalweek
California tech company Transmeta Corporation is being sued by an activist hedge fund over the $10m (£5.14m) bonus it paid to its general counsel, writes The Recorder.
Riley Investment Management, which owns around 7% of Transmeta and earlier this month made an offer to buy the company, filed the suit on 31 January after Transmeta agreed to give general counsel John O’Hara Horsley a cut of a $250m (£128.5m) settlement reached with IT giant Intel in October.
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