Recent Delaware Court of Chancery Decision Sustains Another Caremark Claim at the Pleading Stage

A board of directors has one job: managing risk. Everything they do, selecting, overseeing, compensating, and replacing top management, setting overall strategy, balancing competing interests, is all in service to sustainable growth of the business. Terms like “mission-critical” are just a reflection of that principle. After decades of routinely dismissing such claims, Vice Chancellor Laster’s…

Goldman Settlement of Investor’s Board-Pay Claims Rejected – Bloomberg

A bid by Goldman Sachs Group Inc. to settle a lawsuit over how much it pays directors was rejected by a judge who said that simply making changes in corporate governance didn’t provide enough benefit to the firm. The ruling comes as part of a chancery court crackdown on so-called “disclosure settlements,’’ in which companies resolve investor…