California Court of Appeal

In case involving employee incentive compensation plan, summary judgment for defendants is affirmed as requiring employee participating in the stock purchase plan to forfeit the stock and the money used to purchase it if the employee resigns or is terminated for cause within a two-year vesting period does not violate Labor Code sections 201 and 202.

Appellate Information

• Decided 01/18/2008
• Published 01/18/2008

Judges

• PERLUSS, P.J.

Court

• California Court of Appeal

Counsel

• For Appellant:
  
• Law Offices of Ashley D. Posner, Ashley D. Posner, Sherman Oaks, and Barbara Brudno, Los Angeles, for Plaintiff and Apellant DavidS. Schachter.


• For Appellees:
  
• Skadden, Arps, Slate, Meagher & Flom and Raoul D. Kennedy, Joren S. Bass, Joan Shreffler, San Francisco, Douglas B. Adler, Los Angeles, and Seth M. Schwartz, for Defendants and Respondents Citigroup, Inc. and Saloman Smith Barney, Inc.