California Supreme Court
Nov. 3, 2009
Court Rejects Suit on Stock Option Pay
In a victory for business Monday, the state Supreme Court said there's nothing wrong with paying employees in forfeited stock if the employee chooses to leave.
By Laura Ernde
Daily Journal Staff Writer
SAN FRANCISCO - In a victory for business interests Monday, the California Supreme Court said there's nothing wrong with paying employees in stock that's forfeited if the employee chooses to leave.
The justices unanimously threw out a class-action lawsuit brought by a former Smith Barney Inc. stockbroker who argued such pay plans violate state labor laws. Schachter v. Citigro...
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