SPX Derivative Litigation
Mr. Weiser was lead counsel in the SPX Derivative Litigation. Like the Etrade Derivative Litigation, Mr. Weiser believes that the SPX Derivative Litigation is among the most successful executive compensation cases ever brought against a publicly traded corporation’s board of directors. In this case, the plaintiff challenged the fairness of the Company’s entire executive compensation structure. In connection with the settlement of the SPX action, the Company’s board of directors agreed to adopt a new executive compensation plan which was designed in part, with plaintiff’s counsel and her expert. The new compensation plan more closely aligned shareholder and management interests and it was estimated that the new plan would save the Company at least $25 million.
Eliasoph v. Johnson, C.A. No. 05BCVS-3698 (North Carolina General Civil Litigation Court)(the “SPX Derivative Litigation”)