Shareholders Urge Home Depot To Come Clean

Law360, New York (June 29, 2006, 12:00 AM EDT) -- Two shareholder groups that are outraged with Home Depot Inc.’s stock options grants sent letters to the home improvement giant Thursday, asking that company records be disclosed and that director Kenneth G. Langone be fired.

The AFL-CIO, which has a small direct holding in Home Depot shares, said that granting options on terms that violate the shareholder-approved plan constitutes breach of fiduciary duty. It has asked Home Depot to cancel all remaining unexercised options and to seek legal action against directors who authorized improper stock grants....
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