Quiksilver Gave Execs Improper Stock Awards, Investor Says

Law360, Wilmington (December 3, 2012, 8:14 PM EST) -- A Quiksilver Inc. shareholder launched a derivative suit on Monday in Delaware alleging the surf apparel maker's board illicitly handed out millions of shares in stock awards to the company's top brass last year.

Quiksilver President and CEO Robert McKnight and two other executives all received more stock in 2011 than the 800,000 share limit imposed by a stock incentive plan adopted by investors a decade earlier, according to a complaint filed by the Vladimir Gusinsky Living Trust in Delaware Chancery Court.

The awards, approved by...
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.