directors and officers News

Elon Musk’s Tesla Tweet Trial Delves into Investor Damages

SAN FRANCISCO (AP) — An Elon Musk tweet declaring he had the financing to take Tesla private in 2018 caused billions of dollars in investor damages after the deal collapsed, according to estimates presented Tuesday at a trial examining the …

Shareholders Can Sue McDonald’s Ex-Executive in Landmark Ruling

WILMINGTON, Del. —Shareholders can sue McDonald Corp’s former global chief people officer for the damage they claim he caused to the restaurant chain by allegedly allowing a culture of sexual harassment to flourish, according to a groundbreaking legal ruling. The …

Fla. Homeowners Association Board Members Arrested on Fraud Charges

Current and former Board members at Florida’s largest homeowners’ association were arrested Tuesday, charged with taking millions of dollars from the association over several years. It’s the latest development in a drama that last year saw the arrest of the …

Dell Reaches $1 Billion Settlement over Disputed 2018 Stock Swap

Dell Technologies Inc. on Wednesday said it reached a $1 billion settlement of a lawsuit accusing it of short-changing some shareholders in a controversial $23.9 billion transaction in 2018 that marked its return as a publicly traded company. The all-cash …

PLUS Panelists: New SEC Disclosure Rules May Drive Up D&O Claims

SAN DIEGO — New rules proposed by the US Securities and Exchange Commission on cybersecurity and climate impact disclosures may generate more lawsuits that will generate claims against directors & officers policies, panelists said Wednesday during the Professional Liability Underwriting …

Watchdog Head: Fines May Not Stop Bad Behavior by Companies

NEW YORK (AP) — The head of the nation’s financial watchdog is having second thoughts about how useful fines are in deterring illegal behavior in the financial industry, saying some companies have gotten so big that the money makes little …

Tesla Stockholders Ask Judge to Silence Musk in Fraud Case

DETROIT (AP) — A group of Tesla shareholders suing CEO Elon Musk over some 2018 tweets about taking the company private is asking a federal judge to order Musk to stop commenting on the case. Lawyers for stockholders of the …

As Tougher Climate Disclosures Hit, Campaigners Scour for Laggards

LONDON –– A push by Britain to toughen up corporate environmental disclosures will cast a spotlight on climate change dawdlers as campaigners increasingly turn to the courts to force a speedier transition to a low-carbon economy. Almost 2,000 climate change-related …

SEC Proposes Boosting Blank-Check Company Disclosures, Liability

WASHINGTON —Wall Street’s watchdog on Wednesday unveiled a draft new rule to enhance blank-check company investor disclosures and to strip them of a legal protection critics argue has allowed the shell companies to issue overly optimistic earnings projections. The move …

Liberty Must Defend Against Lawsuits by Nassar Accusers; Coverage May Be Capped

Larry Nassar is accused of sexually assaulting hundreds of girls and young women while working with USA Gymnastics, resulting in his criminal conviction and hundreds of lawsuits that forced the organization into bankruptcy. Liberty Mutual Underwriters must defend USAG against …