Abstract
We are currently seeing an environment in which the public is holding corporations to a higher standard and has rising expectations about the role of corporations in today's society. Large corporations are under attack, and stakeholders and shareholders alike are pressing corporations about their social responsibility, in addition to their corporation governance responsibility. In re Caremark International Inc. Derivative Litigation established the standard for director oversigh liability under Delaware law. A Caremark claim seeking to hold directors liable for failure to exercise oversight is "possibly the most difficult theory in corporation law upon which a plaintiff might hope to win a judgement." Consequently, a coporate board's risk of exposure to oversight liability was limited. In the twenty-year period following the Delaware Court of Chancery's decision in Caremark, oversight claims made against a corporate board never survived a motion to dismiss. ...
Recommended Citation
Kelly S. O'Brien,
Analyzing the Post-Marchand "Expansion" of Mission Critical Risks: Cybersecurity, Climate Change, and Caremark,
57
U. Rich. L. Rev.
109
(2023).
Available at:
https://scholarship.richmond.edu/lawreview/vol57/iss5/5
