Partners Warren Rissier, of counsel Karen Pieslak Pohlmann, and associate Robert (Bob) O’Leary co-authored an Expert Analysis for Law360 discussing a recent California Supreme Court decision that, for the first time, adopted the Caremark standard used by Delaware courts to evaluate breach of fiduciary duty claims based on an alleged failure of oversight.
The article provides a primer on the Caremark standard, outlines how it was applied in the matter of Kanter v. Reed, and explains the importance of this ruling for California-based corporations.