Rising Shareholder Demands Drive New Insurance Solutions
By Sarah Katz Downey, Anthony Paccione and Jason Vigna (July 18, 2017, 3:23 PM EDT) -- Directors and officers are subject to scrutiny not only by federal and state regulators. Recent trends underscore that shareholders increasingly demand to inspect companies' "books and records" to obtain information, including for alleged wrongdoing by senior management. And the scope of those demands is expanding. This raises significant concerns for directors and officers, and the increase in costs associated with responding to books and records requests has left many wondering if they are covered under their organization's directors and officers (D&O) liability insurance.
Expanding Frequency and Scope
State law in most jurisdictions permits shareholders to review a corporation's books and records...
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