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A former bank clerk who became a director of Pudong Development Holdings is suing the firm for allegedly failing to allow him to exercise an option to purchase 20 million shares.
Koo Tai-ne was hired by Pudong's main director and shareholder, Tong Cun-lin, as a general manager of Tomson Development Taipei in 1982 .
Mr Tong established Tomson Pacific in 1990 and the name was later changed to Pudong Development Holdings.
In June last year, Mr Koo was appointed a director of Pudong and switched to the Shanghai office as general manager.
The writ says Pudong established an employee share option scheme in October 1990.
Mr Koo claims he was granted an option to subscribe for 20 million shares at $1.05 a share in September last year.
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