An important accessory to the indemnification rights of directors and officers is their right to have their defense expenses advanced while the claims against them are pending, before their ultimate right to indemnification has been determined. A frequently recurring issue is the question of when the company may withhold advancement. This issue often arises when
The Curse of Post-Close Merger Objection Litigation
There days, virtually every M&A transaction attracts litigation, usually involving multiple lawsuits. These cases have proven attractive to plaintiffs’ lawyers because the pressure to close the deal affords claimants leverage to extract a quick settlement, often involving an agreement to publish additional disclosures and to pay the plaintiffs’ attorneys’ fees.
As Doug Clark
An “Exotic Permutation” of Rule 10b5-1 Trading Plans
The Wall Street Journal is reporting again on the alleged misuse of Rule 10b5-1 trading plans. In its latest article on the topic, the newspaper examines what an SEC spokesman called an “exotic permutation” on the use of trading plans – that is, outside directors’ use of trading plans to allow investment funds they own