Lawrence B. Seidman, et al. v. Clifton Savings Bank, S.L.A., et al. (A-100-09)
On the record presented in this case, plaintiff Seidman failed to satisfy his burden to overcome the effect of the business judgment rule and to demonstrate that the stock option grants and restricted stock awards given to the directors of defendant Bancorp under the 2005 Equity Incentive Plan constituted corporate waste.
