Regions Execs Lose TRO Appeal In Investor Suit

Law360, New York (September 25, 2009, 6:41 PM EDT) -- An Alabama appeals court has granted a Louisiana public pension fund's request to toss Regions Financial Corp. executives' appeal of a temporary restraining order freezing more than $155 million in allegedly improvidently paid executive compensation.

The Alabama Supreme Court agreed with the Louisiana Municipal Police Retirement System on Friday in denying the executives' appeal on the basis that the interlocutory temporary restraining order was not appropriate for an appeal.

The public pension fund brought the derivative shareholder suit in Alabama's Jefferson County Circuit Court on behalf...
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