Executive Pay Suits Against Janus Consolidated

Law360, New York (September 13, 2011, 10:17 PM ET) -- A Colorado federal judge on Tuesday consolidated two shareholder derivative suits against Janus Capital Group Inc. over hefty compensation packages for company directors, but deferred judgment on the plaintiff's bid to appoint lead and liaison counsel.

U.S. District Judge Wiley Y. Daniel found that the cases, filed six weeks apart by investors Mitchell Pinsly and Charles B. Swanson, represented "substantially identical issues" about whether Janus executives breached their fiduciary duty to shareholders in approving the payouts.

"Both cases are shareholder derivative actions filed on behalf of...
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