News & Analysis as of

Fiduciary Duty Internal Controls

Morrison & Foerster LLP - Left Coast Appeals

This Week At The Ninth: ERISA and FERC

This week, the Ninth Circuit considers ERISA claims alleging that a plan administrator unlawfully utilized internal guidelines more stringent than the terms of plaintiffs’ plans and the statute of limitations for an action by...more

Adams and Reese LLP

Ask Not for Whom the Blue Bell Tolls

Adams and Reese LLP on

Fifth Circuit Ruling Against Blue Bell’s Corporate Directors and Officers May Limit Availability of Insurance Coverage in Shareholder Derivative Actions - In a recent ruling, the United States Court of Appeals for the...more

BCLP

A few lessons for internal and outside counsel from the WorldCom collapse - 20 years later

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It has now been 20 years since the historic collapse of WorldCom, Inc. (“WorldCom” or the “Company”). A review of the WorldCom collapse yields some continuing lessons for corporate counsel....more

Gray Reed

Boeing’s Board Agrees to $237.5 Million Settlement in Litigation Alleging Failure to Oversee Airplane Safety

Gray Reed on

The board of directors (“Board”) of The Boeing Company (“Boeing”) agreed to a staggering $237.5 million settlement of a lawsuit brought by stockholders on behalf of Boeing alleging that the Board and certain executive...more

Sheppard Mullin Richter & Hampton LLP

COVID-19 Directors’ Duties of Oversight: Reporting and Monitoring

Boards of directors have a duty to exercise oversight and to monitor the company’s operational viability, legal compliance and financial performance during this COVID-19 pandemic. In Marchand v. Barnhill, the Delaware Supreme...more

Proskauer - Employee Benefits & Executive...

Life Insurer Compelled to Produce Attorney-Client Communications

A federal district court in Ohio concluded that internal communications between a plan administrator and in-house counsel about a beneficiary’s first-level benefit claim remained protected by the attorney-client privilege,...more

Akin Gump Strauss Hauer & Feld LLP

Podcast: Cybersecurity and the Boardroom

In this episode, the third of three building on Akin Gump’s annual Top 10 Topics for Directors report, partner Michelle Reed discusses the critical question of cybersecurity and the corporate world. Among the topics covered: ...more

Seyfarth Shaw LLP

Fiduciary Duties With Respect To Trade Secrets For Dual Or Multiple Directors

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The purpose of this short paper is to ‘join the dots’ between a director’s fiduciary duties and especially a person holding dual or multiple directorships and trade secrets....more

BCLP

Exceptional Plan Governance: Beat Back the Coming Litigation Onslaught

BCLP on

It was bound to happen. For several years, the plaintiffs’ bar has sued fiduciaries of large 401(k) plans asserting breach of their duties under ERISA by failing to exercise requisite prudence in permitting excessive...more

Patterson Belknap Webb & Tyler LLP

Managing Cybersecurity Risk for Nonprofit Organizations: A Fiduciary Duty?

We live in an era of increasingly prevalent cybercrime, and nonprofits are in the crosshairs.  Harvard University, Penn State University and two BlueCross BlueShield entities are just a few nonprofit organizations that...more

Manatt, Phelps & Phillips, LLP

Corporate Investigations & White Collar Defense - September 2015

No Dog Days of August for the SEC—A Recap of a Busy Month - Why it matters: Who says there is a government slowdown in August? Not for the SEC. August 2015 turned out to be very busy indeed for the agency, which...more

Morgan Lewis

District Court Confirms Caremark Applies to Audit Committee Oversight of Internal Controls

Morgan Lewis on

The U.S. District Court for the Northern District of California recently granted a motion to dismiss a derivative action in which the plaintiff alleged that the directors of VeriFone Systems, Inc. breached fiduciary duties...more

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