"On the injunction, I'm going to deny it with the proviso that I may consider it at a later date," Judge Craig Schwall of Fulton County Court said at a hearing to discuss the injunction request. He said would give lawyers for shareholders who sought to block the exit pay about 60 days to gather information in the case.

"If I grant the injunction and it's wrong, Mr. Nardelli could be aggrieved," Schwall said. He said he could take action down the road against Nardelli if problems arose.

Nardelli left the home improvement retailer earlier this month by mutual agreement with the board. He was granted severance of $210 million.