Ex-Chevron Exec Loses Chunk Of Stock Option Case

Law360, New York (December 12, 2009, 4:20 PM EST) -- The former chief procurement officer for Chevron Corp. has lost a large chunk of his lawsuit against the oil giant, which he accuses of violating a carefully negotiated executive employment agreement by canceling — without his knowledge — more than 100,000 of his vested stock options after he retired.

Judge Sol Blatt Jr. kept alive a breach of contract claim by Helmut F. Porkert but threw out remaining claims of negligence, negligent misrepresentation and promissory estoppel in his order, issued Thursday in the U.S. District Court...
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