Janus Defeats Investor Suit Over Exec Pay Package

Law360, New York (September 28, 2012, 6:17 PM EDT) -- A Colorado federal judge on Wednesday dismissed a derivative action against Janus Capital Group Inc. over an executive compensation package shareholders found excessive, ruling that the plaintiffs failed to show the board had explicitly ignored the best interests of the investors.

The two investors, whose separate suits were consolidated in September 2011, failed to state a claim for breach of fiduciary duty in their allegations that Janus neglected its own performance-based executive pay plan when it compensated executives during a rough financial time for the company,...
To view the full article, register now.