This article explains the nature of D&O coverage, outlines the effects of an insured's bankruptcy, and offers practical tips to help your company get the most out of its D&O policy in the event of bankruptcy, all while complying with the applicable law.
If you are employed by a public company, it's likely that your company will undergo an SEC enforcement investigation within the next five years. This article shows in-house counsel how to help guide their company through an SEC enforcement action.
Your outside counsel has just called you in a panic. He has the company's outside auditor on hold on his other line. The auditor is demanding the law firm's evaluation of a very large and difficult lawsuit now pending against the company. The auditor won't accept the formulation from the ABA-AICPA treaty that allows counsel to decline to provide an evaluation unless the lawyer concludes that liability is either "probable" or "remote." The auditor claims that the lawyers can no longer "hide behind" the "treaty" and must provide a complete analysis because of Sarbanes-Oxley. You know that the law firm has a very negative evaluation of the case, which will result in a big reserve and a large hit to earnings if disclosed to the auditor. But you believe that it is too early to get a good estimate. So you tell the law firm auditor to "stick to the treaty." Your outside lawyer asks, "Have you read the Commission's new Rule 13b2-2 regulation"? No? Well, you had better do so.
Does the latest information that confirms anti-corporate bias automatically translate into big payouts for plaintiffs in this post-Enron era? Not necessarily. Read this article to learn how Enron and related scandals might affect your client in the courtroom and what to do about it.
Section 307 of the Sarbanes-Oxley Act establishes new standards of professional conduct for attorneys who appear and practice before the SEC in the representation of a public company. Read this article to learn how you can meet your new obligations.
In the midst of all of the corporate scandals that have erupted since the Enron bankruptcy filing last year and in light of the new requirements established by the Sarbanes-Oxley Act, what do in-house counsel of public companies need to do both to protect their clients (the corporation, its officers, employees, and shareholders) and themselves? Read this article to get a better grasp of the scope of the problem and use the five-point compliance plan to help plan a solution.
This article, the first in a series that will examine and profile-through the eyes of in-house counsel-companies' "best practices," highlighting ideas that you can borrow while implementing your own compliance plan concerning corporate governance.
Read this article to learn how to make your company's code of conduct effective.
Read this article for an overview of the Act and related rulemaking, and to learn how to cope with the changes wrought by the Sarbanes-Oxley Act of 2002.
Discusses the typical coverage of D&O policies and the most common insurer defenses in situations involving allegations of financial misrepresentation.