Investor Drills Stillwater Mining Over Excessive CEO Pay

Law360, New York (April 5, 2013, 4:19 PM EDT) -- Stillwater Mining Co.'s board of directors, already facing an onslaught of reelection challengers, was hit with a class action Thursday that alleges the board wasted shareholder money by awarding the CEO an equity bonus that was 35 percent more than company rules allow.

The derivative suit, filed in Montana federal court by shareholder Sylvia Jurgelewicz, also claims the board was misleading in its proxy statement ahead of the annual shareholders meeting for May because it didn't include the alleged overpayments to CEO Francis R. McAllister....
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