Lawsuits & Board Liability

Philadelphia partner Doug Raymond authored an article in the 2018 Second Quarter Issue of Directors & Boards magazine titled “Lawsuits & Board Liability.” The article discussed company policies to cover the costs that accompany lawsuits that can be brought against directors

As Doug explains, advancement of these expenses, as they are incurred, is important, as it gives a director an immediate source to pay legal and other expenses as they’re incurred, Doug also suggests what to include in an indemnification agreement and provides a list of factors that boards should consider when reviewing their rights to indemnification and expense advancement.

Philadelphia associate Ashlee Paxton-Turner also assisted with the preparation of this column.