Legal Developments

Executive Private Misconduct

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A file folder with the word "Private" on the front

In recent years, private misbehavior of corporate executives like Harvey Weinstein, Steve Wynn, Leslie Moonves, and Elon Musk has outraged many people around the world. Such misconduct – when made public – has frequently damaged the executives’ public reputations, diminished the value of their companies’ stock, and raised some serious legal and policy issues. Part of the challenge in dealing with misbehaving business executives is that the two bodies of law and regulation that govern much of American business – state corporate law and federal securities law – were largely designed to address the professional duties of executives and not their personal lives. Temple Law Professor Tom Lin proposes an original and workable roadmap for conceptualizing, navigating, and addressing executive private misconduct.

Leading Delaware Firms Offer Guidance on Corporate Governance in Light of COVID-19

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Guidelines for Payment of Dividends during the COVID-19 Pandemic In light of the fact that boards of Delaware corporations may have declared dividends before the current crisis arose, we understand that they may be reassessing whether to proceed with payment. While there are many cases indicating that the declaration of a dividend generally creates a

SCOTUS Adopts “No Fair Ground of Doubt” Standard for Violations of Bankruptcy Discharge Order

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In a unanimous decision, the U.S. Supreme Court ruled recently in Taggart v. Lorenzen that a creditor in a bankruptcy case may be held in civil contempt, and subject to sanction, where there is “no fair ground of doubt” about whether the discharge order barred the creditor’s conduct. Creditors engaging with consumers post-discharge often face litigation for

SEC Ratchets Up Enforcement Against Attorneys in Microcap Space

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Introduction Earlier this year, SEC Chairman Jay Clayton fired a warning shot across the bow of practicing securities attorneys: “act responsibly and hold [yourselves] to high standards.” Chairman Clayton specifically called out members of the securities bar advising clients on initial coin offerings (ICOs) that were not being registered with the SEC under the federal