SCHACHTER v. CITIGROUP, INC.

No. B193713.

70 Cal.Rptr.3d 776 (2008)

159 Cal.App.4th 10

David B. SCHACHTER, Plaintiff and Appellant, v. CITIGROUP, INC., et al., Defendants and Respondents.

Court of Appeal of California, Second District, Division Seven.

January 18, 2008.


Attorney(s) appearing for the Case

Law Offices of Ashley D. Posner, Ashley D. Posner, Sherman Oaks, and Barbara Brudno, Los Angeles, for Plaintiff and Apellant David S. Schachter.

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.


PERLUSS, P.J.

A financial brokerage company offers qualifying employees an incentive compensation plan that allows participants the option of using a portion of their annual earnings to purchase shares in the company's stock at a price below the stock's publicly-traded market price. If the participating employee resigns or is terminated for cause within a two-year vesting period, the employee forfeits the stock as well...

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