Quiksilver's chief executive officer, Robert McKnight, two other top managers and the board of directors of the group are charged of violating a mandate issued by shareholders in 2000 to cap the number of new shares offered under the company's stock option plan at a maximum of 800,000. The Vladimir Gusinsky Living Trust, which filed the complaint, claims that the defendants have been issued about four million shares under this plan. Two other top managers accused in the case are Craig Stevenson, chief operating officer of the group, and Pierre Agnès, president of Quiksilver Europe.

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