Partner Bruce Vanyo Discusses Class Actions Over Equity Compensation with Daily Journal

Bruce Vanyo, a partner in the Litigation and Dispute Resolution Practice and co-head of the Securities Litigation Practice, spoke with the Daily Journal regarding an increase of “say on pay” suits. Made possible by the Dodd-Frank Act requirement of advisory votes on executive pay, the suits allow shareholders to delay the relevant votes until the company provides more information. Mr. Vanyo considers such suits “highway robbery” by plaintiff attorneys seeking fees as they rarely result in monetary compensation for the shareholder class: “We’re not talking about disclosures about the company’s prospects at all. It’s regarding why they’re paying an executive as much as they’re paying, or why they’re asking for additional shares to go into the equity incentive account.” (“Plaintiffs’ Firm Pursues Class Actions Over Equity Compensation,” January 24, 2013)