Borden Publishes on the the Role of Journalists in Caremark Litigation

Michael Borden

Professor Michael J. Borden

Congratulations to C|M|LAW Professor Michael J. Borden, whose article Of Outside Monitors and Inside Monitors: The Role of Journalists in Caremark Litigation, in the University of Pennsylvania Journal of Business Law.  In this article, Borden argues for a change in Delaware corporate law that would allow for competitive forces to improve the quality of corporate compliance programs, thus reducing hard to society from corporate illegality and improving shareholder welfare.  Specifically, he argues that courts should remove some obstacles that prevent plaintiffs in shareholder derivative actions from forcing defendant directors to demonstrate the efficacy of their compliance cases where outside monitoring by journalists appears to have detected illegal corporate actions before those actions have been detected by the internal monitoring of the compliance department.

To read the article abstract, click here:

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