AsiaInfo Can't Duck Derivative Suit Over Stock Options Bonus

Law360, Wilmington (August 8, 2013, 6:40 PM EDT) -- A Delaware federal judge Wednesday rejected a bid by AsiaInfo-Linkage Inc.'s top brass to toss a shareholder derivative suit alleging the board of the telecommunication software company violated a bonus plan by doling out excess stock options to officers.

Filed by shareholder Philip Halpert, the complaint claims the board's 2011 award of stock options, including 750,000 given to CEO Steve Zhang, contradicted the terms AsiaInfo's shareholder-approved incentive plan, which limits performance-based options to 100,000 per person.

U.S. District Court Judge Sue L. Robinson denied the motion...
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Case Information

Case Title

Halpert v. Zhang et al


Case Number

1:12-cv-01339

Court

Delaware

Nature of Suit

Stockholders Suits

Judge

Sue L. Robinson

Date Filed

October 17, 2012

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