Astra Ex-CEO Must Pay Back $7M: Mass. High Court

Law360, New York (October 5, 2009, 7:51 PM EDT) -- The Massachusetts Supreme Court on Monday reversed a judgment denying pharmaceutical company Astra USA Inc. recovery of about $6.8 million in compensation paid to former CEO Lars Bildman, previously found liable by a jury for fraud, breach of fiduciary duty and sexual harassment, among other claims.

“Anytime an appellate court orders a CEO who has been found to have breached his fiduciary duties to return nearly $7 million to the company, that's obviously a meaningful statement,” said Jeffrey Robbins, an attorney with Mintz Levin Cohn Ferris...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.