Employment Alert: New York's "Faithless Servant" Doctrine Allows Employer To Recoup $7 Million for CEO's Salary and Bonus

Mintz - Employment Viewpoints
Contact

In a recent case that Mintz Levin successfully litigated, the Supreme Judicial Court of Massachusetts held that a chief executive officer fired for harassing female employees and misappropriating company funds must forfeit approximately $7 million in salary and bonuses paid to him while employed by his former employer, pharmaceutical company Astra USA, Inc. Because Astra was incorporated in New York, this ruling has special significance for New York employers, as Massachusetts’ highest court applied New York law to reach this result, which pertains to the remedies available against corporate officers who breach their fiduciary duty.

Please see full publication below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Mintz - Employment Viewpoints
Contact
more
less

Mintz - Employment Viewpoints on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide