Teva Ends Class Suit With $1.3M Deal To Publicize Execs' Pay

Law360, Washington (June 19, 2013, 5:41 PM EDT) -- Teva Pharmaceutical Industries Ltd. on Wednesday agreed to settle an Israeli class action for $1.3 million, in addition to publishing its senior executives' pay in subsequent regulatory filings.

The class action against Teva, filed in Tel Aviv district court in November by law professors Sharon Hannes and Ehud Kamar, alleged the company violated Israeli and U.S. laws by failing to disclose the individual pay rates.

“In accordance with its desire to provide greater transparency to investors, [Teva] intends to provide disclosure regarding the compensation of its...
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.