Evaluating Director Independence – Zynga Shareholder Derivative Suit

Thomas Sandys Derivatively on Behalf of Zynga, Inc. v. Pincus, et al. , Delaware Supreme Court, Case No. 157,2016, December 5, 2016, highlights the sometimes difficulty, and the importance of evaluating director independence in the circumstance of a shareholder derivative suit. In Zynga the plaintiff filed his shareholder derivative suit without first making a demand…

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White House Proposes Massive Tax Cut Package

White House officials outlined President Donald Trump’s tax plan Wednesday, a proposal Treasury Secretary Steve Mnuchin is calling “the biggest tax cut and the largest tax reform in the history of this country.”  Mnuchin stated the goal of the plan is to create jobs and economic growth.  The dramatic overhaul of the tax code calls…

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When should you take your internal accounting error/mistake or irregularity/fraud investigation outside?

Most every audit committee member, in-house counsel, other board member, CEO, CFO, risk officer, and chief internal auditor will at some time consider whether an accounting related investigation that is being done internally should be taken outside. The decision to stay inside or to go outside isn’t necessarily clear, and there certainly could be differing…

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