DeVry Beats Executive Compensation Derivative Suit

Law360, New York (June 27, 2013, 7:07 PM EDT) -- An Illinois federal judge on Tuesday tossed out a shareholder derivative action alleging that DeVry Inc. breached an incentive plan by awarding its CEO too much in stock options, finding in part that the claims were moot because the company corrected the mistake.

U.S. District Judge George M. Marovich granted a motion to dismiss a shareholder derivative suit brought by Jan Donnawell against DeVry and several board members. In part of the ruling, the judge shot down, as moot, allegations that in 2010, 2011 and 2012,...
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