Ralph Lauren Gets Suit Over Exec Salaries Thrown Out

Law360, New York (June 13, 2012, 6:26 PM EDT) -- A New York state judge on Wednesday dismissed a Florida pension fund's shareholder derivative lawsuit alleging Ralph Lauren Corp. had overpaid its executives, ruling that the fund had to take its beef up with the retailer's board of directors.

"There is no question that the question of executive compensation is left for the board," Judge Lawrence K. Marks ruled from the bench in New York Supreme Court, finding that the fund hadn't shown that the requirements under Delaware law to waive a presuit demand on the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.