Exact(18)
"What counts here is the governance of the company, as laid out in the shareholders' agreement," Mr. Brito said.
In addition, the auction house agreed to issue $40 million in class A stock to plaintiffs in the shareholders' suit.
But Hewlett-Packard's board has claimed a narrow victory in the shareholders' vote, even though the official result has yet to be announced.
On Tuesday, the University of California, the lead plaintiff in the shareholders' class-action lawsuit, confirmed the $40 million deal with Andersen Worldwide.
Such approval should be granted rarely, and only when the audit committee decides that a consulting contract is in the shareholders' best interests.
"The company is standing by the figures which have been published in the shareholders report," a spokesman said, refusing to elaborate further.
Similar(38)
What if the shareholder is in fact another company?
One simple explanation lies in the shareholder base.
Japanese companies are laggards in the shareholder value revolution.
TKT has denied accusations in the shareholder lawsuits.
Glencore was not permitted to participate in the shareholder vote Tuesday.
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