United States First Circuit

In a diversity action against a former employer which rejected an attempt to exercise company stock options 7 days after the three-year exercisable period had lapsed, summary judgment for employer is affirmed where the district court correctly held that Delaware law requires a strict application of the terms and conditions of a board-approved stock option plan under First Marblehead Corp. v. House, 473 F.3d 1 (2006).

Appellate Information

• Decided 03/27/2008
• Published 03/27/2008

Judges

• LIPEZ, Circuit Judge., Before LIPEZ, Circuit Judge, CYR, Senior Circuit Judge, and HOWARD, Circuit Judge.

Court

• United States First Circuit

Counsel

• For Appellant:
  
• Alvin S. Nathanson, with whom Nathanson & Goldberg, PC was on brief for appellant.


• For Appellees:
  
• Richard P. Ward, with whom David C. Potter and Ropes & Gray, LLP were on brief for appellee.