Corporate Governance

Lessons Learned From In Re FPMI Solutions Inc.

When a corporation determines to file for Chapter 11 protection, questions concerning the status of existing labor and employment agreements and viability of employee claims immediately arise. Indeed, there are litanies of potential pitfalls for companies that file for bankruptcy without strictly following the requirements of federal or state employment laws.

Books and records actions are heralded as the "tools at hand" for litigators pursuing shareholder claims against a corporation. In fact, the Delaware Court of Chancery has been critical of litigants who failed to take advantage of a shareholder's right to request the books and records of a corporation prior to commencing litigation against the corporation.

Biopharma companies and their insiders often possess material, nonpublic information. And since company equity usually makes up a large part of insiders' compensation, legal issues arise when they have access to such information and want to trade their equity.

A Checklist for In-House Counsel

Every general counsel over the course of his or her career will face the need to conduct an internal investigation into events at the company. Many of these may be routine in nature, such as matters dealing with individual employees or human resources issues. But at times, the company may be required to examine issues affecting the core of its business, with potential serious impact on its financial performance or with regulatory exposure.

This article provides critical background on DOJ policy and practice, and highlights some of the steps corporate counsel — as well as "spin-off" counsel for individual employees — can take during leniency or plea negotiations to secure non-prosecution protection for the company's employees as part of any antitrust corporate disposition.

Key Decisions from DE's Supreme Court and Court of Chancery

A few recent decisions from the Delaware Court of Chancery provide practical guidance for corporate executives regarding the standard of review that the courts will apply to challenges to executive compensation decisions.

It's important to keep informed of the trends in the realm of asset forfeiture, especially now that the current federal administration has announced its intention seek more asset forfeitures going forward. Here's why.

The use of business email accounts and digital devices for personal communications can be risky for both employers and employees. However, employees of all levels may be commingling corporate communications with their personal information, according to new research.