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GUSINSKY v. BAILEY

1343N, 1343NA, 603126/06.

66 A.D.3d 614 (2009)

887 N.Y.S.2d 585

2009 NY Slip Op 7771

VLADIMIR GUSINSKY, Appellant, v. CLARKE H. BAILEY et al., Respondents, et al., Defendant.

Appellate Division of the Supreme Court of New York, First Department.

Decided October 29, 2009.

The settlement approved by the Supreme Court in this action confers "substantial benefits" on the company since it caused extensive improvements to the company's corporate governance and internal control policies, which provide material, lasting benefits to the company and its shareholders (Seinfeld v Robinson, 246 A.D.2d 291, 294 [1998]). Specifically, the reforms address the problems revealed in the company's stock option granting...

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