Andrews Corporate Officers and Directors Liability Litigation Reporter
December 17, 2001
Waste of Assets
Copyright (c) 2001 Andrews Publications
STOCK OPTION THAT GAVE EX-CEO $80-A-SHARE PROFIT MAY BE ASSET WASTE
Telxon Corp. v. Bogomolny
The new owners of Telxon Corp. may be able to prove that former directors wasted corporate assets when they awarded their ex-CEO bargain-priced stock options on a Telxon subsidiary. A Delaware state court judge has refused to dismiss charges that the...