Citigroup CEO and directors sued over executive pay

[1StrongBlackMan]

3. If this case goes to trial ...

I expect a huge bump in investor suits against the boards of every major corporation, since it would validate the idea that the board's primiary duty is to protect shareholder value.

It'll be interesting to see whether the plaintiff's will argue that the same down-ward market forces that allow the executives to undercut low(er) wage earners' wages, also apply to executive compensation.

I'd love to see the boards answer the wage philosophy that for every $20/hour job, there are others who are willing and able to do that same job, just as well; but for $18 or $16 or even $10/hr. And then, have to argue that somehow executive compensation is somehow different ... that they have to pau $20 million to the executive because there is no one out there who is willing and able to do the job for less.