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Corporate Counsel

2017: The Year of Inconsistent FCPA Enforcement

A recent review of enforcement from 2017 showed a lack of consistency in how monitorships were applied, in how recidivist companies were treated, and in when cases prompted both civil and criminal penalties.
11 minute read

The Legal Intelligencer

2017 Year in Review: Significant Federal Employment Law Developments

Not surprisingly, employment law developments at the federal level in 2017 reflect policy changes that often come with new administrations. These changes largely can be characterized by what has been undone, halted or muddled in some way.
7 minute read

Corporate Counsel

The SEC's Cyber Unit: Friend or Foe to Registered Entities?

In recent years, the Securities and Exchange Commission (SEC) has prioritized the regulation, monitoring, and enforcement of cybersecurity activities. On Sept, 25, the SEC reinforced its commitment to cybersecurity when the Enforcement Division announced the formation of a “Cyber Unit” that will target cyber-related misconduct affecting the securities markets.
8 minute read

Delaware Business Court Insider

Bouchard Tosses Challenge to Conflicted NRG Stock Reclassification

The Delaware Court of Chancery on Monday dismissed an investor suit stemming from a conflicted transaction that extended power giant NRG Energy's control over a subsidiary, finding that minority shareholders had overwhelmingly approved the deal.
3 minute read

Delaware Business Court Insider

Company Can't Back Out of Oral Agreement to End Proxy Fight, Slights Rules

An investor in Innoviva Inc. has finally won its fight to appoint two directors to the drug developer's board, after the Chancery Court on Dec. 8 ruled that the company was bound to honor a last-minute deal to resolve a dramatic proxy fight.
4 minute read

Corporate Counsel

Lead and Sustain Change With a Strategy: 8 Tips

This GLOBAL IN-HOUSE column, the second in a three-part series exploring how in-house leaders can bring change and disruption, focuses on practical tips to manage change in your legal function through strategy.
6 minute read

National Law Journal

Patchwork of Paid Leave Policies in States, Cities Creates Compliance Hurdles

Barbara Brickmeier, vice president for human resources and business development at IBM, said overlapping state and local paid leave mandates provide stress and compliance headaches for companies.
4 minute read

Corporate Counsel

Ex-VW Compliance Chief Gets Maximum Sentence in Emissions Case

Oliver Schmidt was sentenced for his role in lying to federal regulators and in helping VW hide a conspiracy to cheat on emissions tests.
3 minute read

Delaware Business Court Insider

Receiver's Disallowance of Creditor's Claim Subject to De Novo Review

What should be the standard of review when the Court of Chancery considers an appeal from a receiver's disallowance of a claim pursuant to section 296(b) of the Delaware General Corporation Law? In B.E. Capital Management Fund LP v. Fund.com Inc., C.A. No. 12843-VCL (Del. Ch. Oct. 4, 2017), Vice Chancellor Laster held that a receiver's determination is subject to de novo review and the court has discretion to go beyond the record presented to the receiver by conducting an evidentiary hearing.
13 minute read

Delaware Business Court Insider

Are Directors Liable if Their Company Violates the Law? The Practical Implications of 'Kandell'

In a case involving allegations of unusually egregious conduct by directors of a Delaware corporation, the Delaware Court of Chancery in Kandell v. Niv, C.A. No. 11812-VCG (Del. Ch. Sept. 29) (Glasscock, V.C.) found that directors of FXCM, Inc. faced a substantial likelihood of liability for demand futility purposes on a claim alleging that they knowingly allowed FXCM to engage in an illegal business practice, despite the lack of allegations suggesting that the directors were ever explicitly notified that the practice was illegal.
13 minute read

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