The board of directors for online real-estate brokerage eXp World Holdings Inc. were hit with a shareholder derivative suit accusing them of excessively overcompensating themselves.
The board has a policy of compensating its members “many times higher than even the largest-publicly traded companies,” shareholder John Solak said in a June 3 lawsuit in the Delaware Chancery court.
Solak is suing the board for breach of fiduciary duty, unjust enrichment, waste of corporate assets and misleading investors in proxy statements.
The lawsuit also accuses the Bellingham, Washington-headquartered company and its board of providing inaccurate or incomplete information about the company’s director ...
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