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The Straight Story

(48,121 posts) Tue Jan 24, 2012, 03:25 PM Jan 2012

Suit claims J.C. Penney directors defrauded company w/$30.7 Mil comp package to CEO

Everett Ozenne v. Myron Ullman III; Michael Theilmann; Thomas Nealon

J.C. Penney directors defrauded the company by excessively compensating executive officers, including a $30.7 million compensastion package to outgoing CEO Myron Ullman in August 2011, a shareholder claims.

http://www.courthousenews.com/2012/01/24/43294.htm

Full complaint is here (PDF):

http://www.courthousenews.com/2012/01/24/penney.pdf

Screen cap of two items from PDF:

4 replies

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Suit claims J.C. Penney directors defrauded company w/$30.7 Mil comp package to CEO (Original Post) The Straight Story Jan 2012 OP

Whoa, you mean these corporate CEO thieves are going to be held accountable? Amazing!!! nt valerief Jan 2012 #1

This appears to be the board, not the out going CEO ProgressiveProfessor Jan 2012 #3

and yet they pay their employees peanuts with lousy health insurance. WI_DEM Jan 2012 #2

they ran Jack Eckerd Corporation into the ground onethatcares Jan 2012 #4

valerief

(53,235 posts)

1. Whoa, you mean these corporate CEO thieves are going to be held accountable? Amazing!!! nt

Reply to The Straight Story (Original post)

Tue Jan 24, 2012, 03:28 PM

Jan 2012

ProgressiveProfessor

(22,144 posts)

3. This appears to be the board, not the out going CEO

Reply to valerief (Reply #1)

Tue Jan 24, 2012, 03:38 PM

Jan 2012

WI_DEM

(33,497 posts)

2. and yet they pay their employees peanuts with lousy health insurance.

Reply to The Straight Story (Original post)

Tue Jan 24, 2012, 03:30 PM

Jan 2012

onethatcares

(16,166 posts)

4. they ran Jack Eckerd Corporation into the ground

Reply to The Straight Story (Original post)

Tue Jan 24, 2012, 04:08 PM

Jan 2012

taking a locally owned company and cutting it into pieces. My wife worked for JE and was 7 years away from retirement when they kicked it to the curb.

She always said it was a mormon run company where the buddies took care of themselves.

I haven't purchased anything from them since then and don't ever plan to.

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