Pre-IPO Companies Should Upgrade Their D&O Coverage
Law360 (June 15, 2020, 4:06 PM EDT) -- Well in advance of an initial public offering, late stage startups are now regularly adding high-powered, independent directors to their boards.
These companies often not only have prospects for high valuations, but also face global regulatory and compliance risks, as well as related party transaction issues, that call for a board with more sophistication and experience with navigating fiduciary duties than a group that consists solely of founders and employees of the lead venture capital investors.
While the proliferation of stockholder class actions against directors of publicly traded companies has driven directors of these companies to insist upon enhanced layers of...
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