Ransomware: What Every Corporate Executive Needs to Know
It’s Friday afternoon before the New Year’s holiday. A Fortune 500 CEO gets a call from her company’s general counsel: “We’ve been hit by ransomware. We are locked out of our network and can’t communicate with our customers. The hackers demanded $30,000 in Bitcoin in the next 24 hours.”
By Paul Rosen and Carlton Greene|October 30, 2017|Originally published on Corporate Counsel
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A Delaware vice chancellor on Monday delayed making his ruling on a shareholder suit accusing Straight Path Communications Inc. of allowing its controller to funnel "hundreds of millions" of dollars' worth of assets away from the company as a part of its planned $3.1 billion sale to Verizon.
A cardinal principle of Delaware law is that directors manage the business and affairs of a Delaware corporation. This includes decisions regarding whether to pursue claims against officers and directors whose breach of duty may have injured the company.
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