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In the U.S. Department of Justice’s (DOJ’s) latest effort to promote voluntary self-disclosure of corporate misconduct by companies, Deputy Attorney…
In the U.S. Department of Justice’s (DOJ’s) latest effort to promote voluntary self-disclosure of corporate misconduct by companies, Deputy Attorney General (DAG) Lisa Monaco has...
In order for capital markets to function well, investors need accurate information about securities. If investors do not trust firms’ disclosures, they will discount what they are willing to pay for securities, increasing the cost of capital and thereby making it more difficult, even for honest firms, to fund productive endeavors. Moreover, investment decisions based on inaccurate information distort the efficient allocation of resources in an economy.
Delaware Court of Chancery issued important decision for corporations and their officers, finding corporate officers owe a fiduciary duty of oversight. However Court held duty of oversight generally applies only as to matters within the officer’s areas of responsibility.
Department of Justice has issued several policy memoranda setting forth factors federal prosecutors will consider when assessing corporate misconduct. ABA National Institute on White Collar Crime DOJ officials made significant statements agency focus corporate wrongdoing.