Key Developments In Securities & Shareholder Litigation: Annual Report

Bass, Berry & Sims has posted a detailed review of 2014’s key developments in shareholder and securities litigation and how they will affect boards, general counsel and compliance officers going forward. Among the issues discussed is a Delaware Court of Chancery decision that said the board of directors of a Delaware corporation may amend a company’s bylaws to specify a forum other than Delaware for litigating intra-corporate disputes; case law that clarifies a number of questions regarding the disposition of attorney-client privilege in the context of mergers and acquisitions; and the status of the “fraud-on-the-market” presumption (addressed in the Halliburton decision). The report also details how cybersecurity has emerged as a major board issue, and specifically what boards are now obliged to take up.