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https://www.investopedia.com/terms/d/directors-and-officers-liability-insurance.asp
Directors and officers (D&O) liability insurance is insurance coverage intended to protect individuals from personal losses if they are sued …
https://corporations.uslegal.com/officer-and-director-liability/
Decisions made by officers and directors of corporations typically have not subjected these individuals to personal liability. Even if an officer or director makes what turns out to be a bad business decision, the law does not render the person liable unless that decision violates a specific duty imposed on the officer or director.
https://www.upcounsel.com/liability-of-company-directors
https://www.wolfbaldwin.com/articles/small-business-articles/liability-of-officers-and-directors/
Additionally, officer and director liability insurance is available to protect officers and directors against negligence claims, and it is not unusual for the corporation itself to pick up the tab for this insurance so as to entice qualified individuals to serve as officers or to sit on the board of directors. This article is not intended to scare.
https://lawcat.berkeley.edu/record/1154370
Description 1 online resource Frequency Updated annually Summary Liability of corporate officers and directors addresses virtually every aspect of D&O; liability, loss prevention and financial protection, providing the expert insight and practical perspective essential to any attorney counseling corporate directors and officers.
https://www.upcounsel.com/personal-liability-of-corporate-officers
One of the biggest protections for a corporation is its limited liability. Limited liability protects directors, employees, officers, and shareholders from personal liability for actions taken in the name of the corporation. As such, neither a creditor nor an injured party can sue a corporate employee for their actions on behalf of the corporation.
https://www.proassetprotection.com/corporate-officer-and-director-liability-for-crimes-comitted-by-company-ceo-asset-protection/
Three corporate officers of the company that developed and marketed OxyContin were ordered to give up compensation received from the company totaling about $34.5 million! They were sentenced to 400 hours of community service and fined $5,000. They were put on probation for three years.
https://www.thehartford.com/management-liability-insurance/d-o-liability-insurance/explained
Directors and officers (D&O) liability insurance protects the personal assets of corporate directors and officers, and their spouses, in the event they are personally sued by employees, vendors, competitors, investors, customers, or other parties, for actual or alleged wrongful acts in managing a company.
https://www.cga.ct.gov/2002/rpt/2002-R-0704.htm
The principle areas of civil and criminal liability corporate officers and directors face involve fraud and other misconduct in connection with buying or selling securities, and in conducting the corporation's business. For the most part, state and federal jurisdiction overlap. Federal jurisdiction depends on a connection with interstate commerce.
https://corpgov.law.harvard.edu/2021/02/21/recent-trends-in-officer-liability/
As a result, even in circumstances where claims are dismissed against directors, officers who play a role in a challenged transaction—for example, by preparing disclosure documents—may face liability if they perform their duties in a grossly negligent manner, the standard necessary to establish a breach of the duty of care.
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