“However, it is black letter law that the board of directors of a Delaware corporation—not individual shareholders—determines executive compensation."
June 04, 2024 at 06:28 PM
3 minute read
The original version of this story was published on New York Law Journal
U.S. District Judge Dale E. Ho of the Southern District of New York on Tuesday granted a beauty product company’s motion to dismiss a lawsuit filed by a shareholder who objected to the company’s executive compensation practices and alleged deficiencies in related disclosures.
Skadden, Arps, Slate, Meagher & Flom partners Scott Musoff, Lauren Aguiar and Paul Lockwood represent the defendants, Coty Inc., whose brands include Covergirl, Philosophy and Sally Hansen, and its board of directors.
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Dale Ho testifies before the Senate Judiciary Committee during his confirmation hearing to be U.S. District Judge for the Southern District of New York, on Wednesday, December 1, 2021. Photo: Diego M. Radzinschi/ALM
