Summary
Seinfeld filed a suit against Cisco and its board because it did not include the Black-Scholes valuation of the options in the proxy statement.
Seinfeld v. Bartz
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See Also
Proxy Statement Need Not Disclose Black-Scholes Option Value
Plaintiff Seinfeld was a shareholder of Cisco Systems Inc. In 1999, the board of directors obtained shareholder approval to amend Ciscos Automatic Option Grant Program to raise the number of options granted to outside directors.