After raising claims BridgeBio wildly overpaid directors, the accuser wants a $4M reward
Back in May of last year, a BridgeBio investor filed a complaint alleging that the company’s board of directors — home to a few of the biggest names in pharma — breached their duties by approving a plan to grossly overpay themselves.
Now that investor is asking for a $4 million reward for services rendered.
Attorneys representing investor Joel Zalvin filed a request for a $4 million fee award on March 22 in the Delaware Court of Chancery, arguing that the fee is “well-justified” given the benefits achieved by intercepting a plan that would have seen BridgeBio’s directors make $1.25 million annually over the next four years, according to a Law360 report.
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