Cincinnati Bell Exec Pay Suit Survives Dismissal Bid

Law360, New York (September 21, 2011, 3:38 PM EDT) -- An Ohio federal judge ruled Tuesday that telecommunications company Cincinnati Bell Inc.'s shareholders can continue with a derivative suit over allegedly inappropriate executive pay practices, rejecting defendants' contentions that the court had no right to weigh in on compensation decisions.

U.S. District Judge Timothy S. Black denied the defense's motion to dismiss the suit, which alleges the company's board approved more than $8.5 million in compensation the same year the company posted a $61.3 million decline in net income and saw its share price fall from 37 cents to...
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.