The Increasing Importance of Corporate Minutes
August 30, 2005
As corporate scandals continue to dominate the financial press, the actions taken by members of corporate boards of directors are under attack by the civil class action bar, the Securities and Exchange Commission, federal prosecutors, and state regulators. As the activities of board members are increasingly subjected to challenge in civil and even criminal proceedings, the existence of a clear record of the board's activities has become an increasingly critical element in establishing a corporation's decision-making process. Thus, boards of directors should take a fresh look at how their decision-making process is described in corporate minutes to ensure that the minutes will permit the directors to defend the actions taken in the boardroom, as well as to demonstrate that the directors have performed their oversight duties with appropriate care.
Hotline
August 30, 2005
Evidence of Post-Accident Repairs PermittedThe Third Circuit has ruled that under Federal Rule of Evidence 407, a plaintiff who sues only the manufacturer…
New FLSA Regulations And Recent Opinion Letters By The DOL
August 30, 2005
The Department of Labor's new Fair Labor Standards Act (FLSA) (Wage and Hour Regulations) regulations, which went into effect Aug. 23, 2004, are an attempt to modernize pay scales, increase employee coverage, and clarify rules for employers. The salary levels had not been updated since 1975. The Korean War had not yet begun the last time the primary duties regulations were revised, and until last August, the regulations included such anachronistic titles as "legmen," "straw bosses," and "key punch operators." Nevertheless, if one were to judge merely by the sheer number of opinion letters the U.S. Department of Labor (DOL) has issued since the regulations went into effect, it would seem that the new regulations have generated as much confusion as the previous regulations.
Walking the Compensation Committee Tightrope
August 30, 2005
Many people believe that the most difficult job of a director is being a member of the Audit Committee. However, in many ways being a member of the Compensation Committee is more challenging and much more likely to result in the director becoming subject to public scrutiny and possibly criticism.
Creating a Defensible Evidence Preservation/Collection Plan
August 30, 2005
Most companies have fairly comprehensive document retention/destruction policies for both paper and electronic information. Often, these policies have been crafted to meet a disparate range of state, local, federal and regulatory laws (HIPPA, SEC, Sarbanes-Oxley, etc.) that impact document retention schedules. For large companies that face regular, complex litigation (<i>ie</i>, "serial litigants"), the greatest challenge is when the company has to suspend these policies in response to litigation. A company's obligation to preserve data does not necessarily begin at the exact moment a complaint is filed. Rather, recent case law, local statutes, and American Bar Association (ABA) guidelines prescribe that a company's obligation to preserve data begins at the time litigation becomes likely.
Steering e-Discovery's Course
August 03, 2005
A group of vendors, attorneys and other electronic-discovery services "consumers" hopes to use public input to develop a reference model that would help set e-discovery standards and guidelines.
How To Choose An EDD Trainer
August 03, 2005
Even the most seasoned litigator may be puzzled by such arcane terminology as deduplication, metatags, blowbacks and concept querying. To make sense of the electronic-data discovery (EDD) process in general, and to further ensure that the litigator is adept in using the selected litigation review and production tools, selecting a trainer with the appropriate skills and pedagogical technique, combined with "real world" experience in setting up review workflows and meeting production deadlines, is nothing short of critical.
e-Discovery And Inevitable Litigation
August 03, 2005
Electronic discovery in today's quickly changing litigation environment presents many new demands and dangers for counsel and risk management executives. Dire warnings are being issued about the consequences of e-discovery, and with good reason. In cases such as <i>Zubulake</i>, companies have been punished for failing, in the court's eyes, to preserve electronic evidence properly. The penalties range from the severe ' attorneys' fees ' to the extreme ' the entry of default judgment. <br>There are, however, steps you can take now ' before a lawsuit is filed ' that may improve your company's ability to preserve electronic evidence without unduly burdening day-to-day operations.
