Bondholders of a bankrupt company retained Cornerstone Research in a case involving the compensation paid to a “turnaround” specialist who assumed the role of CEO at the company.
Bondholders of a bankrupt company retained Cornerstone Research in a case involving the compensation paid to a “turnaround” specialist who assumed the role of CEO at the company. Cornerstone Research worked with a labor and finance economist to assess the reasonableness of the compensation package. The expert’s analysis included the determination of a sample of similarly situated executives and the valuation of their compensation packages. The expert subsequently testified in court that the CEO was overcompensated relative to similarly situated executives. The case settled.