U.S. law firm again at center of big CEO payout
Headline News
Law firm Wachtell, Lipton, Rosen & Katz is again at the center of a massive and controversial CEO payout, representing the board of Home Depot Inc.that gave its departing boss a $210 million goodbye.
Wachtell's work for Home Depot marks the third time in recent years that it gave advice to boards during other large payout controversies, including executive ousters at Morgan Stanley and the New York Stock Exchange.
Home Depot confirmed Wachtell is representing its board. Wachtell, a respected New York city corporate law firm led by prominent takeover attorney Martin Lipton, did not respond to a call seeking comment on Home Depot.
The home improvement retailer said on Wednesday that Chairman and Chief Executive Robert Nardelli had resigned after a year of heavy criticism of the company's underperformance and Nardelli's pay package. The company also found past problems with its stock option grants.
Nardelli's $210 million exit package sparked widespread criticism and thrust Wachtell back in the CEO pay spotlight.
Martin Lipton was also chairman of the legal-advisory committee of the NYSE, where former Chairman Richard Grasso was forced out in 2003 after a furor over his $187.5 million pay package.
Related listings
-
Many Californians handle their own divorces
Headline News 12/31/2006Rising legal fees, fewer legal aid services and a do-it-yourself mentality are driving more Californians to handle their own divorces, but sometimes not very successfully.Court officials and legal experts worry that tens of thousands of former Califo...
-
SEC Announces Administrative Judge McEwen To Retire
Headline News 12/29/2006Administrative Law Judge Lillian A. McEwen has announced that she is retiring from her position with the SEC, effective Jan. 3, 2007. Since her appointment in September 1995, Judge McEwen has presided over, and issued initial decisions in, scores of ...
-
Court Reprimands Ohio Governor Over Gifts
Headline News 12/28/2006Governor Bob Taft (R-OH) Wednesday received a public reprimand from the Ohio Supreme Court for ethics violations stemming from charges that he received over 50 gifts worth up to $6,000 during four years in office. The reprimand will be a permanent ma...
New Rochelle, New York Personal Injury Lawyers
If you or a loved one has been injured in an accident, contact Kommer, Bave & Ollman, LLP, in New Rochelle, New York, immediately. We can answer all your questions and work with you to determine if you have the grounds for a personal injury lawsuit. The attorneys at our firm are determined to resolve even the most difficult of cases. We will work closely with you to determine the best course of action to get your claim or case resolved in the most efficient way possible. We will fight for your right to compensation! No one should have to suffer a financial burden from the result of another person’s carelessness. The attorneys at Kommer, Bave & Ollman, LLP will aggressively fight to ensure that justice is served on your behalf.