Trying to Match SOX: Dealing with New Challenges and Risks Facing Directors

James B Shein

Research output: Contribution to journalArticle


Directors of public and private companies face increased scrutiny and potential attacks on several fronts. Those include 1) government enforcers and plaintiffs taking directors' personal assets; 2) governance reforms enacted at the state and federal level; 3) court rulings which strip directors of the attorney-client privilege; 4) attacks against the safe harbor of the business judgment rule; and 5) insurers trying to rescind directors' insurance policies. Directors can take steps to protect themselves while still meeting the higher standards. These include hiring independent counsel for non-management directors, restructuring the D&O insurance program, and taking particular actions if the company winds up in bankruptcy.
Original languageEnglish (US)
Pages (from-to)20-27
Number of pages8
JournalJournal of Private Equity
Issue number2
StatePublished - 2005


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