As The D & O Diary has previously noted (here), one of the questions following the Enron and WorldCom civil class actions settlements was whether those settlements’ requirement of individual defendants’ contribution to settlement without recourse to insurance or indemnity represented a trend or an aberration. Several recent high-profile securities lawsuit settlements involving
Enron’s Legacies and D & O Risk
The following is the text of a speech (modified to optimize Internet capabilities) prepared for the Professional Liability Underwriting Society (PLUS) International Conference on November 9, 2006.
Shortly after former Enron CEO Jeffrey Skilling’s October 23, 2006 sentencing (see prior post here), the Enron Task Force announced that it was closing down, declaring that
Notes from Around the Web
Stock Option Exercise Backdating: To date, the focus of the options timing scandal has been on the backdating of option grant date. But an October 30, 2006 New York Times article entitled “Dodging Taxes is a New Stock Option Scheme” (here, registration required) reveals that a new area of investigatory focus is the