Home Depot to pay $14.5 million in settlement

ATLANTA Home Depot reported in its 10-K filed with the SEC on April 3 that it has agreed to pay $14.5 million to settle lawsuits related to stock options and compensation practices.

The payment will go toward plaintiff's attorneys fees and expense reimbursements for suits that went back to 2006. The company noted that the defendants have agreed to dismiss the complaint.

The aforementioned complaint alleged Home Depot's 2005 Proxy was materially misleading because it did not disclose in connection with seeking shareholder approval of a new stock incentive plan that the company had granted backdated stock options under the old plan.