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However, the ruling, made late Wednesday by Jeffersonb County Circuit Court JudgwHouston L. Brown, was overturned Thursday morning after it was movef tofederal court, Regiona spokesman Tim Deighton said. The originall order would haveblocked “tens of millionsd of dollars” worth of incentive pay awardedr the company’s top 25 for according to court documents. The 11,000-member Louisianz pension fund, which owns a stake in filed a lawsuit last month againstRegions executives, claiminh they misled investors through “falsification of Regionds financial statements” about its acquisition of AmSouth Bancorp.
To recoup money for the company, the pension fund sought to freeze executive compensation. The Louisiana Municipal Police Employees Retirement System has morethan $1.6 billionm in assets.
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