AsiaInfo Board Shakes Investor Suit Over Exec Stock Options

Law360, New York (April 21, 2015, 8:37 PM EDT) -- A Delaware federal judge has dismissed a shareholder derivative suit alleging the board of telecommunication software company AsiaInfo-Linkage Inc. violated a bonus plan by doling out excess stock options to officers, saying Tuesday that once a take-private deal was completed, the plaintiffs no longer had standing.

U.S. District Judge Sue Robinson also denied the investors' motion to try again with an amended complaint. Filed by shareholder Philip Halpert, the complaint claimed the board's 2011 award of stock options, including 750,000 to CEO Steve Zhang, contradicted its shareholder-approved incentive plan, which they say limits performance-based options to 100,000 per person.

Judge Robinson...

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