Snow in Oslo The D&O Diary’s European assignment continued this week with a stop for meetings in Oslo. On the flight to Oslo from Stockholm, it was clear from looking out the window that it had snowed overnight in Norway. Skies were clear and the sun was shining brightly when I made my way in to the city from the airport, but Oslo also was covered with a fresh layer of snow.  View Full Post
November in Sweden The D&O Diary is on assignment in Europe this week, with the first stop in Stockholm, Sweden’s capital city. Given Stockholm’s Baltic climate and northern latitude, November is not necessarily the optimal month to visit Stockholm. In fact, the weather forecast for my visit was particularly forbidding, with freezing rain and snow predicted. View Full Post
Guest Post: What Corporate Directors Need to Know about Cybersecurity David M. Furbush David M. Lisi Cybersecurity issues are currently at the top of the agenda for corporate boards. In the following guest post, David M. Furbush and David M. Lisi of the Pillsbury law firm review what corporate directors should understand about their companies’ cybersecurity risks and how boards can go about proactively participating in decisions about what to do to mitigate these risks. View Full Post
Guest Post: Second Circuit: Price Impact Evidence Not Always Necessary to Establish Market Efficiency A recurring issue in securities cases involves the question of when plaintiffs may rely on the presumption of reliance under the fraud on the market doctrine. To invoke the presumption plaintiffs must show that the defendant company’s securities trade on an efficient market, which in turn raises the question of what the plaintiffs must show in order to demonstrate market efficiency. View Full Post
D&O Insurer’s Withholding of Settlement Consent Held Reasonable D&O insurance policies typically specify that the insurer’s written consent is required for a policyholder to settle a claim, such consent not to be unreasonably withheld. This consent-to-settlement clause is the not infrequent source of coverage disputes, usually involving circumstances where the policyholder has gone ahead and settled a claim without seeking the requisite consent. View Full Post
Has the Rise of Collective Investor Actions in Europe Led to Forum Shopping? As I have previously noted on this blog (most recently here), one of the most significant recent developments in the D&O claims arena has been the global rise of collective investor actions. One factor in this development in Europe has been the non-binding 2013 Collective Redress Recommendation, in which the European Commission recommended that each of the EU’s 28 member states adopt collective redress mechanisms. View Full Post