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 Florida Offices Managing Partner Manuel Garcia-Linares has been appointed to chair the firm's Litigation department. The news was featured in Miami Today.
Day Pitney's Executive Committee, Executive Board and department leadership changes were featured on CityBiz.
Day Pitney Press Release
Day Pitney's Executive Committee, Executive Board and department leadership changes were featured in Law360 Pulse.
Day Pitney Litigation Partner Georgia Thompson was featured in the Daily Business Review article on the Florida Legal Awards' On The Rise Honorees.
Day Pitney Partners Stephen Catanzaro, Laurence Smith, and Elizabeth Yoo were featured in New Jersey Law Journal's 2024 New Partners Yearbook, which highlights partners, including lateral partners, made or hired at New Jersey firms.
Day Pitney Litigation department chair Manuel Garcia-Linares was featured in a Daily Business Review Q&A about his most significant achievements in the past year.
Day Pitney Litigation Partners Gregory Bruno and Alfred W.J. Marks authored "Don't Believe Everything You Read Online: Recent Sanctions Decision Offers Cautionary Tale of Generative AI Risks" for the New York Law Journal's Special Litigation Section.
Day Pitney Discovery Counsel Ashley Picker Dubin was featured in a Legaltech News Q&A on her new role as Discovery Counsel at the firm.
Copyright © 2024 Day Pitney LLP, all rights reserved.