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Case: Executive Compensation/Deferred Compensation (N.D. Ill.)

July 22, 2021, 11:07 AM

A claim by a former executive in Walgreen Co.'s discontinued restaurant business that the company owes him $2.5 million under an executive compensation plan he participated in more than 30 years ago cleared a motion to dismiss in a Chicago federal court. It’s not clear whether the Walgreens employee who denied the plaintiff benefits was acting as the plan administrator, or whether her interpretation of the compensation plan must be reviewed for abuse of discretion or de novo, the court said. And the plaintiff has plausibly alleged that his benefit denial was arbitrary and unfounded, given that other similarly situated ...

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