Investors Can't Stop Cincinnati Bell's Exec Raises

Law360, New York (September 27, 2011, 4:19 PM EDT) -- An Ohio federal judge on Monday rejected a preliminary bid by Cincinnati Bell Inc. shareholders to block the company from implementing a 2010 plan to spend $8.5 million on executive pay raises despite poor financial earnings.

U.S. District Judge Timothy S. Black denied the plaintiffs’ motion for a preliminary injunction and a request to divert the executives’ compensation to a constructive, interest-bearing trust, saying the shareholders, led by the NECA-IBEW Pension Fund, failed to prove they would suffer irreparable harm otherwise.

“Any preliminary order placing the...
To view the full article, register now.