The criminal and civil litigation of the post-Enron era have raised tough questions over who should pay the often multimillion-dollar defense costs of current and former corporate executives charged with fraud and other wrongdoing. To recruit and to retain executives, most companies promise (typically, through corporate bylaws) to advance attorney fees and litigation expenses to company executives who face criminal or civil litigation and to indemnify such executives.
But is there a point at which a company does not have, or should not have, an obligation to advance defense attorney fees to admitted or proven wrongdoers? And, is there a point at which the amount of defense costs becomes unreasonably excessive?
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]