Photo: Greenbutterfly via Adobe Stock When the Paper Tiger Bites: The Myriad Dangers of Ineffective Compliance Programs
Corporations need to take a close look at their compliance programs, making sure that these programs are delivering, not just promising, real oversight.
March 26, 2021 at 02:30 PM
8 minute read
American corporations spend billions of dollars every year on compliance programs, which do help to protect them from lawsuits and regulatory actions.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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