In the past few years, Say-On-Pay litigation was at its highest levels in the business world. Say-On-Pay litigation refers to lawsuits that are filed by shareholders and which allege that an executive is receiving a salary that is too high. He or she may have a salary that is in gross disparity to other employees, and this can be a source of contention for shareholders. Recent months show that this litigation may have come to an end.

The Dodd-Frank legislation includes terms that allows shareholders to hold periodic meetings in which shareholders voted about whether an executive’s salary was excessive. These meetings were required to be held by reporting companies. The Act mentioned that these meetings were to play a purely advisory role in the ways in which business functioned. In addition, the Act stated that these meetings did not change or alter any of the fiduciary duties of officers in the company.

After the legislation was passed, many shareholders began to initiate lawsuits against companies for gross disparities in an executive’s salary. Many of these lawsuits were filed in 2011. Unfortunately, the lawsuits were unsuccessful in nature. If your business is currently grappling with shareholder lawsuits, then it may wish to get in touch with a Union New Jersey business lawyer. A Union New Jersey business lawyer can help diffuse litigation that may impact your business.

It seems that Say-On-Pay litigation has proven futile for shareholders. If shareholders are considering filing a lawsuit against a business for other reasons, then they may wish to speak with a business law Union NJ firm. A business law Union NJ attorney is prepared to help you understand the ramifications of pursuing a lawsuit against a business.

A Union New Jersey Business Lawyer can assist shareholders or business owners. Get in touch with a  Union, NJ business law firm to get started in the process of filing a lawsuit today. There may also be a way for you to settle certain legal issues outside of court. This can often be a more cost-effective way for you to handle a legal issue that you have with a business.