McDonald's fast food restaurant in New Jersey. Photo: Diego M. Radzinschi/ALM Why Fla. Lawyers Should be Mindful of Chancery Court's Decision in 'McDonald's'
All lawyers should be mindful of this recent shift, especially those whose practice involves advising on corporate conduct and misconduct, including those admitted to practice in Florida—given the significant number of Florida companies registered in Delaware and Florida's legal history of following Delaware precedent.
May 08, 2023 at 05:00 PM
7 minute read
Board of Contributors
The exact contours of liability for executives and officers who fail to comply with oversight duties have been a long unresolved issue. Those seeking to determine whether and to what extent executives and officers are liable for employee misconduct, were sent down a winding and murky path in the wake of In re Caremark International Derivative Litigation, 698 A.2d 959, 961 (Del. Ch. 1996) (Caremark), and its progeny.
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