Soon thereafter, two public pension funds in Ohio indicated they will be suing United as well, followed by a retirement fund for Pirelli Armstrong Tire.
Excessive executive compensation seems to be an issue that just won't go away because excessive executive compensation won't go away.
The first have been against the poster company for these allegations, United Health Group in Minnesota.
The company's stock had performed very well, although in 2006, after the allegations surfaced, it announced that it would be restating earnings.
The practice is illegal if it is not followed by proper disclosure and related expenses are not recorded in financial statements.