Articles & Updates - 2008
D&O and Foreign Subsidiaries
By Priya Cherian Huskins, Esq.
Tue Dec 23 15:46:00 -0800 2008
Given the increasingly global nature of business, many US public and private companies find it advantageous to incorporate subsidiaries in jurisdictions outside of the United States. It has long been accepted as conventional wisdom that the officers and directors of these foreign subsidiaries face little risk of personal liability and that, if a problem were to arise, the parent company's director and officer liability insurance policy would respond. Conventional wisdom is, in this case, unreliable.
For Your More Robust Personal Protection
By Priya Cherian Huskins, Esq.
Tue Nov 11 15:45:00 -0800 2008
Directors and officers of corporations face the risk of personal liability for actions performed and decisions made on behalf of the corporation. Perhaps unknowingly, many directors and officers unnecessarily accept an enhanced risk of personal liability by failing to insist on a personal indemnification agreement, a relatively common agreement that obligates the corporation to indemnify a director or officer for his or her actions.
Trucker Huss Benefits Report
Health Plan Update Special Alert
Wed Nov 05 15:43:00 -0800 2008
Employee Benefits Briefing: Medicare Update
Sat Nov 01 15:41:00 -0700 2008
This is to remind employers of the annual notification requirements under the Medicare Prescription Drug, Improvement and Modernization Act (MMA).
Annual notice to beneficiaries:
By November 15th each year employers need to send the notice of creditable or non-creditable coverage to beneficiaries.
The Center for Medicare and Medicaid Services (CMS) provides model notices for employers to use. You can obtain a copy of the current notice, along with updated guidelines at www.cms.hhs.gov/CreditableCoverage.
The Initial Public Offering: A Guidebook for Executives and Boards of Directors
By Priya Cherian Huskins, Esq.
Fri Oct 24 15:40:00 -0700 2008
"The Initial Public Offering" is an annual guide for Executives and Boards of Directors, published by Wilson Sonsini Goodrich & Rosati. Woodruff-Sawyer's Priya Cherian Huskins is featured in the chapter on D&O Liability Insurance.
Legislative Update: SF HSCO Lawsuit Update
Wed Oct 01 15:39:00 -0700 2008
Avoiding the Next D&O Liability Disaster: FCPA Prosecutions
By Priya Cherian Huskins, Esq.
Mon Sep 15 15:38:00 -0700 2008
"Don't ask, don't tell" is not a winning strategy when it comes to compliance with the Foreign Corrupt Practices Act (FCPA). Both public and private companies need a more hands-on approach, and urgently so.
Trucker Huss Benefits Report
Thu Aug 07 15:36:00 -0700 2008
The Entrepreneurs Report - Private Company D&O Insurance
By Priya Cherian Huskins, Esq.
Mon Jul 14 17:04:00 -0700 2008
Directors and Officers of private companies potentially face unlimited personal liability if they are sued. As a result, when it is time for a start-up company to recruit serious talent to take the company to the next level, the purchase of director and officer liability insurance becomes a priority. This article was first published in the Spring 2008 issue of The Entrepreneurs Report, by Wilson, Sonsini, Goodrich & Rosati.
Trucker Huss Benefits Report
June 2008
Wed Jul 02 17:03:00 -0700 2008
- New Genetic Non-Discrimination Act Creates Restrictions for Health Plans, Insurers & Employees
- Heros Earning Assistance and Relief Tax Act Adds Benefits for Those in Military Service
EB Briefing: The Impact of Same-Gender Marriages In California on Employee Benefit Plans
Wed Jun 11 17:02:00 -0700 2008
Trucker Huss Benefits Report
May 2008
Tue Jun 10 17:01:00 -0700 2008
- The impact of same-sex marriage on benefits
- The department of labor amends and supplements qualified default investment alternative regulation
Stanford Law Review: FCPA Prosecutions: Liability Trend to Watch
By Priya Cherian Huskins, Esq.
Wed May 28 17:00:00 -0700 2008
When it comes to compliance with the Foreign Corrupt Practices Act (FCPA), multinational companies that adopt a "don't ask, don't tell" policy may come to regret their hands-off approach. Compliance with the FCPA's laws against bribing foreign officials has recently come under increased scrutiny by the Securities and Exchange Commission (SEC), the United States Department of Justice (DOJ), and the plaintiffs' bar. At the same time, jurisdictions outside of the United States have also exhibited a renewed interest in enforcing their own FCPA-like laws.
For individual officers and directors, the environment is equally challenging. Of particular concern may be an emerging focus by the SEC to hold individual officers personally liable for failing to implement proper internal controls designed to prevent FCPA violations.
Trucker Huss Benefits Report
April 2008
Tue May 13 16:59:00 -0700 2008
Sale of a Company: Director Duties and Personal Protection
By Priya Cherian Huskins, Esq.
Fri May 02 16:58:00 -0700 2008
Consider this scenario: a company's CEO tells his board that he has received a compelling offer for the sale of the company. Upon reviewing the offer, the directors agree that the offer is attractive, and think that the shareholders would be well-served to accept the offer. However, as experienced board members, they know that the potential sale of a company is an inflection point for litigation. The board's next steps are critical, both to maximize shareholder value and to avoid litigation that may result from failing to do so. This article outlines the fundamental duties of a board considering the sale of a company. The article also details what a board can do beyond diligently fulfilling its duties to protect itself from liability and thereby focus entirely on promoting the interest of shareholders.
Labor and Employment News Brief: Are You Up-To-Date for 2008?
by Tracey K. Merwise, Severson & Werson
Fri May 02 16:58:00 -0700 2008
This article will help your company update its policies and procedures to comply with the host of new Employment Laws, both Federal and State, that are going into effect in 2008.
Client Action Bulletin
Coordinating Retiree Health Benefits with Medicare
Wed Apr 02 16:57:00 -0700 2008
This Client Action Bulletin discusses the U.S. Supreme Court's recent decision to let stand the EEOC's final rule allowing employers to coordinate retiree health benefits with Medicare or comparable state-sponsored health benefits programs.
Trucker Huss Benefits Report
March 2008
Tue Apr 01 16:56:00 -0700 2008
The following subjects are covered in the March 2008 Trucker Huss Benefits Report:
- Supreme Court Rules that Defined Contribution Plan Participants Can Sue for Losses to Their Individual Accounts
- IRS Issues Guidance for New Distribution Requirements that Become Effective in 2008
Discrimination Filings with EEOC the Highest Since 2002
Tue Mar 18 16:55:00 -0700 2008
The U.S. Equal Employment Opportunity Commission in fiscal year 2007 received the highest number of discrimination charge filings in five years, the agency reported last week.
The federal agency received 82,792 private-sector discrimination charge filings in fiscal 2007, compared with 75,768 in 2006. The 9.3% annual increase is the largest since 1993.
Trucker Huss Benefits Report
February 2008
Mon Mar 03 16:52:00 -0800 2008
EB Briefing: New Law Creates Leave Rights Under FMLA for Military Families
by Milliman Inc.
Fri Feb 22 16:50:00 -0800 2008
The National Defense Authorization Act For Fiscal Year 2008 included provisions that significantly broaden the Family and Medical Leave Act (FMLA) to support military families.
The Cost of Doing Nothing
by Ken Drummer
Tue Feb 05 16:51:00 -0800 2008
This informative article discusses Consumer Driven Health Plans (CDHPs). The focus is on the origin of CDHPs, the current employer environment and the cost of doing nothing.
Trucker Huss Benefits Report
January 2008
Mon Feb 04 16:41:00 -0800 2008
C&RE Briefing: 2008 OSHA Update
Tue Jan 29 16:40:00 -0800 2008
As we do at the beginning of each new year, we'd like to remind you of OSHA's annual requirement that you post your Summary of Work-Related Injuries and Illnesses for the calendar year 2007. Some of the key items related to these requirements are in this C&RE Briefing.
Employee Benefits Briefing: Oregon Domestic Partnership Legislation
Thu Jan 03 16:38:00 -0800 2008
Oregon House Bill 2007 (HB 2007), the same sex domestic partnership legislature was recently temporarily suspended.