Janus Sued Over Say-On-Pay Vote

Law360, New York (August 18, 2011, 1:10 PM EDT) -- A Janus Capital Group Inc. investor on Tuesday filed a derivative suit in Colorado claiming the company's board of directors violated its duty to shareholders by approving the mutual fund company's compensation packages despite a vote against them.

Janus shareholder Charles D. Swanson said that 58 percent of the Janus shareholders who took part in an April say-on-pay vote were against the proposed compensation for the mutual fund company's top executives for 2010.

After the vote, the board said it was exercising “business judgment” in approving...
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Case Information

Case Title

Swanson v. Weil et al


Case Number

1:11-cv-02142

Court

Colorado

Nature of Suit

Stockholders Suits

Judge

Wiley Y. Daniel

Date Filed

August 16, 2011

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