Cyber Security Indeed: Derivative Action Dismissed Where Board Proactively Addressed Cyber Risks and Exposures

By | The D&O Diary | November 26, 2014
Cyber Security Indeed: Derivative Action Dismissed Where Board Proactively Addressed Cyber Risks and Exposures

In the first of what is certain to become a cottage industry of derivative lawsuits involving alleged inadequate cybersecurity and deficient public disclosures, on October 20, 2014, a New Jersey federal court granted a motion to dismiss filed by Wyndham Worldwide Corporation’s directors and officers based on its finding that Wyndham’s Board has duly considered and dismissed the plaintiff’s demand that the company sue its directors and officers. 

FCPA to Increasingly Target Individuals

FCPA to Increasingly Target Individuals

The head of the Department of Justice (DOJ) Criminal Division warned Friday that Foreign Criminal Practices Act (FCPA) prosecutions will increasingly target individuals wrongdoers, rather than corporations. Assistant Attorney General Leslie Caldwell, speaking at the American Conference Institute’s National Conference on the Foreign Criminal Practices Act, outlined a two-prong approach to attack foreign corruption.