Avoiding In-House Conflicts
In the aftermath of the recent corporate scandals, investigations, criminal trials of senior management and settlements of shareholder class actions, one question often heard is, “Where were the lawyers?” The media, government, class action bars, judges, juries and members of the public have high expectations for lawyers when it comes to spotting legal problems and doing something about them.
The Sarbanes-Oxley Act of 2002 revised New York Stock Exchange rules and, consequently, graders of corporate governance are all focused on independence and accountability. In this environment, it is more important than ever that in-house counsel identify and carefully manage actual and potential conflicts of interest.
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