3Com has been sued by a shareholder over
$7.35 million in stock options given to members of the
company's board of directors, Bloomberg reported. In the
class-action suit, shareholder David Shaev contends that the networking
company misled investors about the value of the options for eight
directors, which he called "grossly excessive compensation." 3Com declined
to comment.
Short Take: 3Com sued over board member stock options
3Com has been sued by a shareholder over $7.35 million in stock options given to members of the company's board of directors, Bloomberg reported. In the class-action suit, shareholder David Shaev contends that the networking company misled investors about the value of the options for eight directors, which he called "grossly excessive compensation." 3Com declined to comment.