Our Firm Handles a Derivative Case for Illegal Bonuses Granted to ICL executives
17.05.2018
Following a petition for a derivative claim filed by our firm on behalf of a shareholder of the company, the defendant, ICL (Israel Chemicals Ltd.), has formed an independent committee that investigated the plaintiff’s claims, according to which the Company handed out bonuses to its executives unlawfully.
This past week, ICL submitted the report of the independent committee, that was established by the Company for the purpose of handling the derivative claim filed by Ronen Adini &. Co. regarding the bonuses paid to the Company’s officers throughout the years 2015-2014, to the District Court. The report provides a rare glimpse behind the scenes of the Board of Directors’ meetings, as well as the processes relating to one of the most sensitive subjects that board members discuss: Bonuses to Company officers.
The committee criticized the fact that the largest adjustment performed due to the employees’ strike was carried out with no external consultation.
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