Mass. High Court OKs Citigroup Stock Plan - 2 Feb 2009

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Mass. High Court OKs Citigroup Stock Plan



Law360,
New York (February 02, 2009) -- The Massachusetts Supreme Judicial
Court has handed a victory to Citigroup Inc., ruling that the
forfeiture provision in one of its employee stock plans did not violate
the state's weekly wage act.


In an opinion issued Friday,
Massachusetts' highest court ruled that any bonus money placed in the
plan was “contingent compensation” and not “wages.”...


more (requires sign in)... http://financialservices.law360.com/registrations/user_registration?article_id=85531&concurrency_check=false



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