1st Circ. Upholds Stripped Bonus For Fired Abiomed Exec

Law360 (December 2, 2019, 3:08 PM EST) -- A fired Abiomed Inc. executive is not legally entitled to a lucrative stock bonus because he couldn't show the windfall represented compensation for his past work to help the heart pump maker earn regulatory approval in Japan, the First Circuit has ruled.

The court upheld the ruling of a Massachusetts federal judge, who said Keisuke Suzuki had not shown Abiomed to be “on the brink” of having its line of Impella heart pumps approved by the Japanese government when he was sacked in 2015. The "on the brink" standard, which can allow employees to recover bonuses if their work brought the...

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