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Loan & Distribution Specialist AimPoint Pension
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Compass
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A $327 Million Stock Option Mistake
Winston & Strawn LLP, via Lexology; free registration required [Guidance Overview] Sept. 3, 2010 Excerpt: A case decide[d] this week by the U.S. Court of Appeals ... demonstrates the high sta[k]es of stock plan miscommunications. In Bell v. Pfizer Inc...., a 2-1 majority of the Court held that Pfizer did not breach its fiduciary duties under [ERISA] by making potentially misleading statements, albeit unintentional, to an employee about her ability to exercise millions of dollars in stock options. |
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