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The business judgment rule is a case-law-derived doctrine in corporations law that courts defer to the business judgment of corporate executives. It is rooted in the principle that the "directors of a corporation ... are clothed with [the] presumption, which the law accords to them, of being [motivated] in their conduct by a bona fides regard for the interests of the corporation whose affairs ...
Directors and officers liability insurance (also written directors' and officers' liability insurance; [1] often called D&O) is liability insurance payable to the directors and officers of a company, or to the organization itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for ...
Such liability provides a strong disincentive for the best potential directors to serve on the board, and one would expect such a disincentive to result in worse corporate governance. The decision has also been derided as the "Investment Banker's Relief Act of 1985" because of all the business it has generated for investment bankers from boards ...
A director's obligation includes a duty to attempt in good faith to assure that a corporate information and reporting system, which the board concludes is adequate, exists, and that failure to do so under some circumstances may, in theory at least, render a director liable for losses.
A 2016 mapping of 41 countries’ corporate liability systems shows wide variations in approaches to liability, and that corporate liability is a dynamic area of legal innovation and evolution. [ 1 ] The term legal person refers to a business entity (often a corporation, but possibly other legal entities, as specified by law) that has both ...
The five had their first appearance in Miami-Dade bond court late Tuesday. Gallego, 41, the former HOA president, was charged with several counts of racketeering, organized scheme to defraud ...
If the opportunity was disclosed to the board of directors and the board declined to take the opportunity for the corporation, the fiduciary may take the opportunity for themself. [5] When the corporate opportunity doctrine applies, the corporation is entitled to all profits earned by the fiduciary from the transaction. [ 6 ]
View Article The post Goya board of directors censures CEO for election fraud claims appeared first on TheGrio. The board of directors of Goya Foods has censured Robert Unanue, the company’s ...