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Liberty Tax Service Inc., which has more than 4,000 offices in the United States and Canada, is caught up in its own Weinsteinesque sex scandal that has left the company and general counsel Vanessa Szajnoga in a corporate governance quandary.
senior reporter at ALM since 2004; based in Florida;
covers general counsel and white collar crime;
It is an all-too familiar accusation to many directors: If only you had done something more, the corporation could have avoided an injury or loss. Since the mid-1990s, Delaware courts have repeatedly recognized that attempting to pin personal liability on directors for their alleged inaction is “possibly the most difficult theory in corporation law upon which a plaintiff might hope to win a judgment,” as in In re Caremark International Derivative Litigation, 698 A.2d 959, 967 (Del. Ch. 1996).
Gibson, Dunn & Crutcher partner Orin Snyder and Texas trial lawyer Thomas Ajamie squared off in a boardroom drama at a prominent charity within the past year. Their imbroglio would underscore the means by which one of Hollywood’s most powerful individuals used his power.
A Booz Allen Hamilton shareholder on Monday filed derivative litigation against members of the government contractor's board, after the company announced in June that the U.S. Department of Justice had begun probing its accounting and cost-charging practices.
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