Stillwater CEO Returns Stocks In Wake Of Shareholder Suit

Law360, New York (April 10, 2013, 6:58 PM EDT) -- Feeling the heat from a new shareholder derivative suit, the CEO of Stillwater Mining Co. will give back a portion of his equity bonuses from past years as a larger battle to oust the mining company's board of directors continues to brew. 

The Montana-based company said its compensation committee rescinded nearly 105,000 shares of stock that CEO Francis R. McAllister got as incentive awards in 2012 and 2010 in response to a derivative lawsuit filed last week in Montana federal court, according to its filing with...
To view the full article, register now.

Related

Sections

Case Information

Case Title

Jurgelewicz v. McAllister et al


Case Number

1:13-cv-00047

Court

Montana

Nature of Suit

Securities/Commodities

Judge

Sam E Haddon

Date Filed

April 4, 2013

Law Firms

Companies

Government Agencies

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.