Wednesday, June 07, 2006

Shareholder Suits Follow on Heels of Home Depot Meeting

The Home Depot's truncated annual meeting last week was followed by howls of criticism by corporate governance experts -- and three shareholders' suits filed in Fulton County Superior Court against chairman and CEO Robert Nardelli and the company's board of directors.
Central to the suits is what the plaintiffs call Nardelli's "unreasonable compensation" of $245 million over five years during which the company's stock price fell 12 percent.

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