January 12, 2012
An Oregon magistrate judge on Wednesday recommended the dismissal of a putative class action by Umpqua Holdings Corp. shareholders over executive pay, saying the shareholders had not made sufficient claims that the board of directors acted against the company's best interest.
May 27, 2011
Umpqua Holdings Corp. shareholders sued the banking company's board of directors and four top executives in Oregon federal court on Wednesday, alleging they breached their duty of loyalty when the board approved raises for the executives despite a negative shareholder return in 2010.