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Home / The SCoVA Blog / Court reverses ‘golden parachute’ for bank CEO (access required)

Court reverses ‘golden parachute’ for bank CEO (access required)

A former bank executive lost over $800,000 in severance pay and attorney’s fees in a Jan. 14 decision by the Supreme Court of Virginia. That court reversed a Norfolk trial judge’s 2014 award as a “golden parachute” payment that was prohibited after the bank accepted federal TARP funds. Scott C. Harvard was an executive vice president of ...

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