The U.S. Department of Justice recently announced its intention to hold company executives responsible for white-collar crimes. We’ve reported that Sally Quillian Yates, deputy attorney general, wrote a memo to every U.S. attorney, as well as senior management at the Justice Department, outlining the intention to prosecute executives for corporate wrongdoings. “One of the most effective ways to combat corporate misconduct is by seeking accountability from the individuals who perpetrated the wrongdoing,” she wrote.
What does that mean for the corporate executives? Well, according to Heidi Lawson and Jacquelyn Burke of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, “it should serve as a stark reminder to executives that their interests are not always aligned with those of their company.” The authors note that now would be the right time to re-examine insurance that covers the c-suite’s defense and indemnity of government investigations, as well as other lawsuits.
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