Computer Associates Executives to Pay Half a Billion Dollars, Wolf Haldenstein Announces.NEW YORK--(BUSINESS WIRE)--Nov. 9, 1999-- The following is announcement by the law firm of Wolf Haldenstein Adler Freeman & Herz, LLP LLP - Lower Layer Protocol : A Delaware Judge has ordered three top executives of Computer Associates International Inc. (NYSE NYSE See: New York Stock Exchange :CA) to return to the company approximately $550 million in stock improperly granted in 1998. Three plaintiffs' law firms This list of the world's largest law firms by revenue is taken from The Lawyer and The American Lawyer and is ordered by 2006 revenue:[1]
Delaware Chancery Court The Chancery Court of York is an ecclesiastical court for the Province of York of the Church of England. The presiding officer, the Official Principal and Auditor, has been the same person as the Dean of the Arches since the nineteenth century . Vice Chancellor vice chancellor n. Abbr. VC 1. A deputy or an assistant chancellor in a university. 2. A deputy to or a substitute for a head of state or an official bearing the title chancellor. 3. Myron Steele granted summary judgment in favor of plaintiffs on Tuesday, November 9, 1999. The Court ordered 9.5 million shares of stock be returned to Computer Associates which the three officials received from an executive compensation package. Chairman and Chief Executive, Charles Wang, who could have garnered nearly two thirds of the original $1.1 billion largesse lar·gess also lar·gesse n. 1. a. Liberality in bestowing gifts, especially in a lofty or condescending manner. b. Money or gifts bestowed. 2. Generosity of spirit or attitude. from his Board of Directors, must return most of what he received. Counsel representing plaintiffs includes Bruce Gerstein, Esq. and Barry Taus, Esq. of Garwin, Bronzaft, Gerstein & Fisher, Fred Taylor Isquith, Esq. of Wolf Haldenstein Adler Freeman & Herz and Pamela Tikellis, Esq. of Chimicles & Tikellis. Plaintiffs filed the first of the actions attacking the transaction in August of 1998. They intervened in a later filed Delaware action and continued the prosecution to this successful result. Plaintiffs are pleased that Computer Associates is recovering the significant assets that had been improperly paid to its senior officers. |
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