Joseph M Mclaughlin

December 09, 2010 | New York Law Journal

Joseph M. McLaughlin, a partner at Simpson Thacher & Bartlett, examines two decisions underscoring that the pre-suit demand requirement is no idle ritual for the putative plaintiff; definitive guidance from the Delaware Supreme Court on the requirements for maintenance of a "double derivative" suit; and last month's Court of Chancery ruling that creditors of an insolvent Delaware LLC lack standing to maintain derivative claims.

By Joseph M. McLaughlin

14 minute read

January 30, 2002 | New York Law Journal

I Is the claim derivative or direct? The question has vexed courts and practitioners in Delaware and elsewhere as they have sought to clarify the "often murky distinction" between the two types of corporate law claims. 1 The hazy line between the claims can become even more indistinct when it is understood that the same facts can give rise to both a derivative claim and a direct claim. Yet as Vice Chancellor Leo Strine`s recent decision in Akins v. Cobb illustrates, 2 characterizing a claim as derivative o

By Joseph M. Mclaughlin

14 minute read

August 12, 2005 | Law.com

Delaware courts have recently issued several noteworthy decisions addressing the rights of directors and officers to indemnification and interim advancement by the corporation of attorney fees and litigation-related expenses. These include rulings on when a corporate official's claim for indemnification accrues and the permissible scope of an advancement proceeding, and decisions in the protracted advancement dispute between Homestore Inc. and a former officer, which is now in the Delaware Supreme Court.

By Joseph M. McLaughlin

13 minute read

June 17, 2008 | Corporate Counsel

Recent Delaware rulings have important ramifications for the rights of directors and officers to indemnification and interim advancement by the corporation of litigation-related expenses. In addition, a 3rd Circuit decision underscores the importance of entities that provide investment management and advisory services ensuring their company has secured adequate errors and omission coverage to fill a potential coverage gap in their D&O policy. Attorney Joseph M. McLaughlin reviews these developments.

By Joseph M. McLaughlin

15 minute read

August 12, 2010 | New York Law Journal

In his Directors' & Officers' Liability column, Joseph M. McLaughlin of Simpson Thacher & Bartlett examines new amendments to the Delaware General Corporation Law regarding indemnification and interim advancement of expenses and two Delaware Court of Chancery decisions.

By Joseph M. McLaughlin

17 minute read

April 15, 2005 | Law.com

The 9th Circuit recently issued a decision in a closely-watched case, endorsing the Securities and Exchange Commission's first exercise of its authority under �1103 of the Sarbanes-Oxley Act. That provision authorizes the SEC to get an escrow order freezing assets when it establishes in a federal district court that a public company is likely to make an extraordinary payment to an officer, director or agent while the agency is investigating whether the company or that person has violated securities laws.

By Joseph M. McLaughlin

12 minute read

February 14, 2008 | New York Law Journal

Joseph M. McLaughlin, a partner at Simpson Thacher & Bartlett, writes that by relieving corporate officials from the personal financial burden of paying ongoing expenses arising from lawsuits and investigations, advancement is widely recognized as an important corollary to indemnification as an inducement to secure able individuals to corporate service.

By Joseph M. McLaughlin

15 minute read

June 15, 2006 | Law.com

Federal and state courts have issued noteworthy decisions this year addressing important issues concerning corporate indemnification rights and directors and officers liability insurance policies. Attorney Joseph M. McLaughlin examines these recent decisions, in particular a 9th Circuit opinion on covered damages that highlights the risk to insurers of defining key policy terms in serpentine sentences that impair clear expression.

By Joseph M. McLaughlin

15 minute read

June 09, 2005 | New York Law Journal

Jospeh M. McLaughlin, a partner at Simpson Thacher & Bartlett, writes that the recent surge in filings of state law claims for damages arising from "owning and holding" securities is of great interest to directors and officers, and their insurers.

By Joseph M. McLaughlin

12 minute read

August 14, 2008 | New York Law Journal

Joseph M. McLaughlin, a partner at Simpson Thacher & Bartlett, writes that together, CAFA and SLUSA reflect Congress' recognition that federal securities class action claims are a subject of paramount federal concern and its intent to place such claims in the federal courts. In its recent decision in Luther v. Countrywide Home Loans Servicing, LP, the Ninth Circuit affirmed the remand of 1933 act claims to state court, frustrating this clearly expressed congressional intent.

By Joseph M. McLaughlin

18 minute read