Sarbanes Oxley Blackout Options Case - January 4, 2012 - U.S. District Court permits Employee Stock Option Case to proceed to trial and rules Stock Options are covered under the Illinois Wage Act
January 24, 2012 01:17 PM
On the heals of a recent order compelling Defendant Navistar to produce discovery in Rawat v. Navistar, No. 08-cv-04305 (N.D. Ill.), the District Court denied Navistar's request for Summary Judgment on the major claims against it--breach of contract, breach of an implied covenant of good faith and fair dealing, and violation of the Illinois Wage Act--in connection with its employee stock option plan. In the same decision for the Plaintiffs, the District Court made new law by ruling that the Illinois Wage Act covers employee stock options under its protections.
Read the District Court's Order denying in part Navistar's Motion for Summary Judgment
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