Citigroup CEO and directors sued over executive pay
Days after being rebuked by shareholders, Citigroup Inc (C.N) Chief Executive Vikram Pandit and the bank's directors have been sued by a shareholder accusing them of awarding outsized pay to top executives.
The complaint, filed Thursday in Manhattan federal court, said directors breached their fiduciary duties by awarding more than $54 million of compensation in 2011 to the executives, including $15 million to Pandit, though the bank's performance did not necessarily justify it.
Citigroup CEO and directors sued over executive pay | Reuters
Re: Citigroup CEO and directors sued over executive pay
The guy who filed the lawsuit is a man named Stanley Moskal.
Now I did a quick search on this fellow, couldn't come up with anything except that he may be the former Deputy Mayor of a New Jersey Town called Garfield although I'm not sure whether it's the same person.
All I can say is, it's a ballsey move on his part, Citigroup is a massive company and will probably flatten him with a 10 Ton Weight not unlike Wiley Coyote in the Roadrunner Cartoons.
Gotta give him some credit for trying though.