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Michael Furey authored an article, "Del. Caremark Opinion Shows Shift In Deference To Boards," published by Law360. Furey discusses the recent Delaware Supreme Court's decision in Marchand v. Barnhill, after a third Delaware Chancery Court judge refused to dismiss a derivative action asserting a Caremark oversight claim against corporate directors. Previously, motions to dismiss Caremark claims were granted on a routine basis, but in three recent decisions the Delaware Chancery court did not dismiss the claims. This has generated interest over whether Marchand represents a change in the law, a change in judicial attitude or another example of bad facts making bad law. Furey believes these recent decisions have not fundamentally changed the law but represent a new willingness on the part of courts to review claims that boards of directors have failed to monitor management in a less deferential manner to directors than in the past. These decisions are part of a trend towards the use of compliance programs, including Board committees, as a way to prevent corporate wrongdoing.
You can read the full article here (subscription).
Day Pitney Alert
On March 19, Partner and General Counsel Elizabeth J. Sher presented a webinar, "A Delicate Balance: Conflicts, Waivers and Consents," for NITA's studio71.
Judge Christopher Droney (ret.) and Matthew Austin co-authored the article, "The Investigation and Enforcement Landscape Under the Garland Department of Justice," for the New York Law Journal.
Michael Furey authored the article, "Joint Representations: A Blessing or a Curse?" for the New Jersey Law Journal.
On December 17, Judge Christopher Droney served as a panelist for the Federal Bar Council webinar, "Remote Proceedings Update."
Day Pitney Press Release
Day Pitney Partner Stan Twardy was quoted in the Connecticut Law Tribune article, "This Husband-and-Wife Lawyers Just Landed 2 of the Most Powerful Jobs in Connecticut," regarding the Day Pitney alumna Nora Dannehy being named the Connecticut Governor Ned Lamont's General Counsel and her husband Leonard Boyle being appointed by the U.S. Department of Justice as acting U.S. Attorney in Connecticut.
Christopher Droney was quoted in the Connecticut Law Tribune article, "Gov. Lamont Names Nora Dannehy as His General Counsel," discussing former Day Pitney Attorney Nora Dannehy being named by CT Gov. Lamont as his General Counsel.
Stan Twardy and Christopher Droney were quoted in the Connecticut Law Tribune article, "Meet Lawyers Elevated to Top Spot at U.S. Attorney's Office in Connecticut," regarding the U.S. Department of Justice naming Leonard Boyle as acting U.S. Attorney in Connecticut.
Day Pitney Press Release
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