Investors Can't Stop Cincinnati Bell's Exec Raises

Law360, New York (September 27, 2011, 4:19 PM EDT) -- An Ohio federal judge on Monday rejected a preliminary bid by Cincinnati Bell Inc. shareholders to block the company from implementing a 2010 plan to spend $8.5 million on executive pay raises despite poor financial earnings.

U.S. District Judge Timothy S. Black denied the plaintiffs’ motion for a preliminary injunction and a request to divert the executives’ compensation to a constructive, interest-bearing trust, saying the shareholders, led by the NECA-IBEW Pension Fund, failed to prove they would suffer irreparable harm otherwise.

“Any preliminary order placing the...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

NECA-IBEW Pension Fund v. Cox et al


Case Number

1:11-cv-00451

Court

Ohio Southern

Nature of Suit

Stockholders Suits

Judge

Timothy S. Black

Date Filed

July 4, 2011

Law Firms

Companies

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.