The bottom line is that I believe this is a nonevent for shareholders.
Neofight, always good to get your professional input.
I had one of these suits filed against my company by a controller that we had fired. It is almost a routine response if they can't find work right away. (Even if they do in our case.) I noticed on Cathie's LinkedIn page that she was 'looking for opportunities' for awhile and now she says she's been running her own bookeeping service all this time.
She told me years ago she wanted to retire so I think she's being opportunistic here, and that is the way of the world.
In my case it was quite routine. My controller had actually lied on her resume about her qualifications but she still sued me for a one-year salary plus a bit extra. The first thing the court makes you do is enter arbitration.
We sat in a room with both parties and their lawyers and an abritrator that we had to hire. After we each said our piece we were placed in separate rooms and the arbitrator went from room to room to bully us into a settlement.
The bottom line was nobody wanted to go to court or waste any time on this and so it was a matter of coming down to the lowest acceptable figure. We settled at about 10% of the ask and it was over. The abritrator said he'd never had a situation that he couldn't resolve through abritration (bullying) and I just wrote it off as the price of doing business.
Cathie will ask for a year's salary plus what she feels she should have received in options and CUU will end up paying something and then it will be over.
