The directors of Persimmon could become the first to be targeted under a law that allows shareholders to take action against boards for bringing a business into disrepute, as part of the row about fat-cat pay at the housebuilder.
Aberdeen Standard Investments, a shareholder in Persimmon, is preparing a private prosecution against its boss Jeff Fairburn and other directors over the chief executive’s refusal to back down from taking a £75m bonus that caused outrage in the City.
In-house legal advisers to Aberdeen are examining the Companies Act to see whether they have grounds to sue Mr Fairburn and the rest of the Persimmon board over the bonus on the grounds that it has damaged the company’s reputation.
