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...
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