Management Liability Update

Archive for the ‘Financial Reporting’ Category

NJ Appellate Division Rules Shareholders Can Inspect Board Minutes

Icon August 19, 2010 – 7:39 am

An August 17, 2010 New Jersey decision may be negative for businesses in New Jersey despite what on the surface is  a win for a large corporation.   In Cain v. Merck & Co., Inc., the New Jersey Appellate Division addressed whether the New Jersey Business Corporation Act entitles shareholders to inspect the minutes of the [...]



Business Method Patents Live on Another Day: Bilski Decided by SCOTUS

Icon June 28, 2010 – 12:15 pm

Today’s Bilski v. Kappos decision rejected having a Federal Circuit test for determining patentable subject matter as a “knock out” test for business methods.  If affirmed, this Machine-or-Transformation Test (if applied as the sole test) would have likely rejected all business method patent applications.  As it stands, the United States is the only country that allows for business method patents.  After today’s [...]



CyLab Survey: Corporate Protection of Digital Assets Not a Priority

Icon June 17, 2010 – 6:31 am

The recently released Carnegie Mellon CyLab 2010 Corporate Governance survey confirms that there is little change in senior management’s views towards data security – it’s not really a priority.   The CyLab annual survey, which measures board and management attitudes towards the protection of digital assets, is based upon results received from respondents at the board or [...]



Lehman, D&O Liability and Mark-to-Market Reporting

Icon June 1, 2010 – 6:40 am

The Devil’s Casino, Vicky Ward’s first book, is the latest account of the fall of Lehman Brothers.  Released in April, this Lehman tome applies  a gossipy approach to storytelling.  Although we learn much about the shopping habits of some Lehman wives, repo transactions are nowhere to be found.   The book, however, becomes noteworthy when Ward details a September 9, 2008 meeting between JPMorgan’s Jamie Dimon [...]