Real Estate Biz Investor Sues Over Exec's $50M Bonus & More Latest News Here – Up Jobs

 

By Jeff Montgomery (August 11, 2022, 6:17 PM EDT) — A Newmark Group Inc. stockholder has sued the commercial real estate company’s chairman, Howard L. Lutnick, and three directors in Delaware’s Court of Chancery, in a proposed derivative complaint that accused Lutnick of “blowing smoke” about his part in a $500 million stock value gain in order to secure a $50 million bonus.

Robert Garfield, lead Newmark stockholder for the proposed class, argued that Lutnick — Newmark’s controlling shareholder, principal executive and a minority investor — browbeat the company and his three board colleagues into approving the bonus despite spending only a third of his time with the company.

Lutnick, who…

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