Corporate
Nov. 15, 2003
Private Directors and Officers Can Be Liable for CEO Actions
Focus Column - Corporate Law - By Bruce Hurwitz - A recent federal court decision exposes directors and officers of private companies to greater liability, including personal liability, for acts committed by the company's leader. In Pereira v. Cogan , 2003 U.S. Dist. LEXIS 7818 (S.D.N.Y. 2003), the influential District Court for the Southern District of New York held that a firm's directors and officers had breached their fiduciary duties by failing to monitor and prevent the self-dealing transactions of the chief executive officer.
Corporate Law
By Br...
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