From the Greenville News:
William W. “Billy” Wilkins successfully argued against a motion in a shareholder suit against South Financial that asked for a temporary restraining order barring retirement payments to retired CEO Mack Whittle as part of a an agreement that the suit alleges is “unconscionable” and could threaten the company’s solvency if carried out.
The agreement would pay Whittle $10 million following his retirement in October, attorneys said in court Tuesday during a hearing before Circuit Judge John Few, who denied shareholder Vernon Mercier’s request for the restraining order.
Not surprisingly, Wilkins's stock as an advocate is rising.
Wednesday, November 19, 2008
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