News & Analysis as of September 21, 2024

Cybersecurity › Duty of Loyalty

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

[Event] Regional Compliance & Ethics Conference - February 22nd - 23rd, Anchorage, AK

Health Care Compliance Association (HCCA) on 2/19/2024

Looking for compliance education and networking in your area? SCCE & HCCA’s Regional Compliance & Ethics Conferences bring compliance practitioners from all disciplines together for convenient, local compliance education....more

[Event] Regional Compliance & Ethics Conference - February 22nd - 23rd, Anchorage, AK

Society of Corporate Compliance and Ethics... on 2/19/2024

Federal Privacy Bill Voted Out of House Subcommittee

Husch Blackwell LLP on 6/27/2022

Keypoint: A revised version of the American Data Privacy and Protection Act was formally introduced in the House and voted out of a subcommittee. As we previously reported, on June 3, 2022, a bipartisan and bicameral group...more

Firemen’s Ret. Sys. of St. Louis v. Sorenson: No Caremark liability for data breach - Quarterly Corporate / M&A Decisions update...

Hogan Lovells on 1/25/2022

In Firemen’s Ret. Sys. of St. Louis v. Sorenson, C.A. No. 2019-0965-LWW (Del. Ch. Oct. 5, 2021), the Delaware Court of Chancery dismissed a derivative lawsuit against Marriott executives and directors for breaches of the duty...more

The Risk of Overlooking Oversight: Recent Caremark Decisions From the Court of Chancery Indicate Closer Judicial Scrutiny and...

Skadden, Arps, Slate, Meagher & Flom LLP on 12/17/2021

In 1996, the Delaware Court of Chancery issued its seminal decision in In re Caremark International Inc. Derivative Litigation, establishing the conditions for director oversight liability under Delaware law. Adopted a decade...more

Shareholders Seek to Hold Current and Former SolarWinds Officials Liable for Massive 2020 Security Breach

Benesch on 12/7/2021

Investors filed a derivative suit claiming that the company knew about, and failed to mitigate known, existing cybersecurity risks and shortfalls prior to the security breach. In early November, pension funds and...more

Cybertheft Lawsuit: ERISA Fiduciary Breach Claims Dismissed Against Plan Sponsor but Move Forward Against Recordkeeper

Groom Law Group, Chartered on 10/16/2020

On October 2, 2020, the Northern District of Illinois ruled on motions to dismiss in a closely-watched cybertheft lawsuit arising out of the theft of $245,000 from a participant’s account in the Abbott Laboratories Stock...more

A Toolkit for Directors & Officers of US Companies Amid COVID-19

Goulston & Storrs PC on 4/8/2020

The current COVID-19 crisis has rapidly re-shaped everyday life around the world, and our understanding of the impact this disruption to daily interactions and routines has had on business is constantly evolving....more

Corporate Law & Governance Update - July 2019

McDermott Will & Emery on 7/31/2019

IMPACT OF EQUIFAX, FACEBOOK SETTLEMENTS - Health care industry boards should give close attention to the governance implications of recent privacy settlements entered into by Equifax and Facebook. Their unique facts...more

New York State Data Privacy Law Fails

Ballard Spahr LLP on 7/19/2019

New York’s proposed data privacy law failed to materialize in the latest legislative session and is now presumed dead. New York was one of a number of states that proposed sweeping privacy legislation after the enactment of...more

Move over, CCPA? New York Considers Sweeping Data Privacy Law

Foley Hoag LLP - Security, Privacy and the... on 6/10/2019

New York’s state legislature is considering a new data privacy law that would set the standard for data privacy in the U.S. The New York Privacy Act (the “NYPA” or the “Act”), which is currently being considered by the state...more

Senators Introduce Data Care Act To Establish Duties For Online Service Providers

Cozen O'Connor on 12/19/2018

On December 12, 2018, Senator Schatz (D-HI), along with 15 other Senators, introduced the Data Care Act of 2018 “to establish duties for online service providers with respect to end user data that such providers collect and...more

Senate Introduces The Data Care Act of 2018

Snell & Wilmer on 12/14/2018

On Wednesday, December 12, 2018, Senator Brian Schatz (D-HI), Ranking Member of the Communications, Technology, Innovation, and the Internet Subcommittee, introduced The Data Care Act of 2018. The bill, which is co-sponsored...more

Home Depot Agrees to Settle Data Breach Shareholders’ Suit

Robinson+Cole Data Privacy + Security Insider on 5/3/2017

In a surprise move late last week, Home Depot has agreed to settle a shareholders derivative suit filed against current and former members of the Board of Directors and the Chief Executive Officer and Chief Information...more

Home Depot Evades Shareholder’s Derivative Suit for 2014 Data Breach

BakerHostetler on 12/21/2016

Public companies that are proactively working to mitigate “cyber” risks and prepare to respond to potential incidents frequently ask whether a “breach” will lead to litigation, loss of customers, stock price decline, and...more

Home Depot Data Breach Derivative Suit Sent Home

Proskauer - Minding Your Business on 12/16/2016

Judge Thomas W. Thrash Jr. of the U.S. District Court of Georgia permanently shelved a derivative suit brought by shareholders of Home Depot. Home Depot is a multinational home improvement retailer. In September, 2014,...more

Shareholders’ Derivative Suit Against Home Depot Dismissed

Robinson+Cole Data Privacy + Security Insider on 12/12/2016

On November 30, 2016, The Home Depot, Inc. (Home Depot) got a victory in the shareholders’ derivative suit filed against it for its alleged failure to institute necessary controls to secure its data relating to its 2014...more

Director Cybersecurity Risk Oversight and Actions

Dorsey & Whitney LLP on 1/12/2016

This article begins by providing an overview of the duty of directors to oversee risk, including cybersecurity risk, in the cyberattack context and then outlines actions that board of directors are taking as reported by...more

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Cybersecurity › Duty of Loyalty

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