DOJ Targets D&O: Yates Memo's Impact On Insurance Claims

Law360, New York (September 29, 2015, 10:58 AM EDT) -- The U.S. Department of Justice released a new enforcement policy on Sept. 9, 2015, that will likely increase the costs associated with claims under director and officer insurance policies.

Deputy Attorney General Sally Quillian Yates issued a memorandum to the DOJ's prosecutors, called "Individual Accountability for Corporate Wrongdoing" (Yates Memo). The Yates Memo emphasized the DOJ's enhanced focus on holding corporate executives accountable for corporate wrongdoing in both criminal and civil cases. In the past, the DOJ has routinely agreed to settle cases of corporate wrongdoing by requiring the organizations to pay fines, change their business practices and sometimes agree to...

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