Investors in real estate business sue over executive’s $50 million bonus

Jeff Montgomery (6:17 PM EDT on Aug. 11, 2022) — Newmark Group Inc.’s shareholders, in its proposed derivative, are Howard L. Lutnick, chairman of the commercial real estate firm, and three directors. filed in Chancery Court in Delaware. He accused Ratnick of “blowing smoke” for being involved in a $500 million stock valuation to secure a $50 million bonus.

Robert Garfield, Newmark’s largest shareholder in the proposed class, says Lutnick — Newmark’s controlling shareholder, key executive and minority shareholder — spends only a third of his time with the company. He claimed to have coerced the company and his three board colleagues into approving the bonus, even though he did not.

Ratnik, who…

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