On the Evolutionary Change in the Liability of an Independent Director in India

By | The D&O Diary | November 6, 2014
On the Evolutionary Change in the Liability of an Independent Director in India

The case law that has evolved under the erstwhile Indian Companies Act of 1956 and ancillary legislation which concerns the activities of a company has iterated that the Directors and Officers of a company can be held vicariously liable for the acts of the company, which liability may arise as a consequence of the involvement of the Directors and Officers in the act complained of, the breach of fiduciary duties, negligence or ultra vires acts.

Vulnerability Theory & Class Actions

By | Class Action Countermeasures | November 5, 2014
Vulnerability Theory & Class Actions

SUNY-Buffalo professor Christine Bartholomew has an article out with the intriguing title “Redefining Predator and Prey in Class Actions.”  Unfortunately, it does not use zoology or mathematical predator-prey equations to explain class litigation—the kind of loopy academic mashups that can be both fun to read and insightful.  Instead, she uses a new “vulnerability theory” to critique the “current impotency” of Rule 23.

Ignorance is $$$ in Class Actions and Recalls

By | Mass Torts: State of the Art | November 4, 2014
Ignorance is $$$ in Class Actions and Recalls

Kip Viscusi has just published a very good paper about the GM ignition switch recall controversy. In it he argues that blockbuster jury awards in cases where corporations had made design and recall decisions based on cold economic calculations influenced GM’s decision not to do the same sort of risk analysis on its defective ignition switch problem.