The National Law Journal “Executive Bonuses Triggering Lawsuits Nationwide.” Here’s an excerpt. For more about greed, CLICK HERE.
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Executive bonuses might be stirring public outrage these days, but they’re still alive and well in corporate America — and triggering a variety of litigation.

The lawsuits range from corporate officers who allege their companies reneged on bonuses to officers who believe they were fired for protesting them.

Also, attorneys are busy helping corporations revise their bonus plans in the wake of revelations that insurance giant American International Group Inc. handed out $165 million in bonuses after accepting billions of dollars in a massive governmental bailout.

The revelations touched off a public furor — and planted a legal bull’s-eye on corporations.

In Michigan, a banker and former vice president recently sued Citizens Republic Bancorp, claiming he was fired for questioning a $7.5 million bonus for the company’s chief executive on the eve of a federal bailout payment. Schwab v. Citizens Republic Bancorp, No. 09-090916-CZ (Genessee Co., Mich., Cir. Ct.).

In California, a former division president of Centex Corp. homebuilders sued his employer for reneging on a promise to pay him $355,000 in bonuses, a suit that he claims led to his firing weeks later. The case recently settled. Pautsch v. Centex Corp., No. 2:2008cv02360 (E.D. Calif.).