Top Board Concerns Heading into 2017 Remain a Hot Topic

Each year, a number of surveys and commentators describe and predict the trending topics of interest and importance to boards of directors in the for-profit and non-profit sectors. As we wrap up the first quarter of 2017, it appears that many of the predicted hot topics continue to garner attention from various corners. Cybersecurity – According to various surveys, boards have ranked cybersecurity among their principal concerns coming into 2017.  An earlier blog post discussed some recent lawsuits against directors and officers alleging breach of fiduciary duties in shareholder derivative suits.  Amongst additional data breaches that have been reported in the news media as 2017 has been underway, the National Association of Corporate Directors recently published a Director’s Handbook for Cybersecurity Risk Oversight, illustrating the continued attention that the topic has been receiving in boardroom.  In March, three U.S. Senators have introduced the Cybersecurity Disclosure Act of 2017, which would require public companies to disclose whether any corporate directors have expertise in cybersecurity and, if so, the nature and extent of that expertise. Board Tenure, Diversity and Refreshment.  A number of boards and commentators have addressed their interest in balancing … Continue reading

Posted in Business Law, DOJ, Governance, Health Care, Securities | Tagged ,

Share this Article:

You’re Fired: What Impact Will Sally Yates’ Departure Have on the DOJ’s Fraud Enforcement?

As most of the world now knows, President Trump fired acting Attorney General Sally Yates last week after she declined to defend the President’s travel ban. Dana Boente has replaced Ms. Yates, but he may not be long for the job.  In fact, it is possible that by the time you are reading this, Alabama Republican Jeff Sessions will have been confirmed as Attorney General of the United States.  The Senate Judiciary Committee advanced Mr. Sessions to the full Senate along party lines and a confirmation is expected any day. While the rest of the world watches the political drama unfold and anticipates the immediate impact on existing travel ban litigation, those who do business with the Federal Government cannot help wondering about the enduring legacy of the infamous “Yates Memo,” named for its now-former acting Attorney General author. Although its application is often nuanced, the purpose and crux of the Yates Memo is that absent special permission based on extraordinary circumstances, the Department of Justice must pursue individuals in corporate fraud and abuse cases.  Until a new policy is announced, the Yates Memo’s mandate remains in effect. Mr. Sessions … Continue reading

Posted in DOJ

Share this Article: