10 Personal Liability Pitfalls For Directors And Officers

Law360, New York (July 12, 2013, 2:29 PM EDT) -- The decision to serve as a corporate officer or director is perhaps more complex than ever. The risks of being personally liable for corporate wrongdoing or being personally saddled with the costs of litigation are front-and-center concerns for many board members today.

How can board members be certain they are personally protected before trouble arises? Most know to check the obvious: provisions in corporate articles and bylaws and having good directors and officers liability insurance coverage. Yet in working with corporate board members, we often find a lack of understanding of several key factors, often uncovering previously unknown areas of personal...

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