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When Rick Burdick was asked to join the board of directors for AutoNation Inc. more than a decade ago, he didn't hesitate. Now, the Akin Gump partner says, he might think twice. Caught in the wake of Sarbanes-Oxley regulation is the practice of attorneys serving on boards of directors. With the regulatory stakes and liability risks outweighing the business benefits for many lawyers on corporate boards, governance experts and firm managers say fewer attorneys are saying yes to board memberships.
March 17, 2004 at 12:00 AM
1 minute read
The original version of this story was published on The Recorder
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