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.