August 2, 2007
Posted: Summer Issue of Compensation Standards Print Newsletter
We have just posted a complimentary copy of our “Summer 2007″ issue of Compensation Standards. This issue includes articles on:
– The Debate Over “Say on Pay”
– Independence of Compensation Consultants: A Growing Issue
– Severance and Termination Payouts: A Whole New Ballgame
– Respected Consultant Calls Severance and CIC “Huge Embarrassment for Corporate America”
– The True “Walk Away Number”
– Leading By Example: The True Leaders Speak Up
If you wish to receive complimentary copies of the Compensation Standards print newsletter in the future, please sign up today for complimentary copies: for you and your directors!
You might ask: Why do we give this newsletter away for free? Because we believe in responsible compensation practices. Learn more about how to implement responsible practices by registering for our upcoming “4th Annual Executive Compensation Conference.” This Conference provides practical “how to implement” guidance – unlike any other conference.
Third Circuit Court Weighs In: The Attorney-Client Privilege in the Parent-Sub Context
A few weeks back, the U.S. Court of Appeals for the Third Circuit issued a noteworthy opinion – In re Teleglobe Comm’cns Corp., No. 06-2915, (3rd Cir. 7/17/07) – regarding the attorney-client privilege under Delaware law in the context of a parent-subsidiary joint representation. The case involved claims by subsidiaries against their former parent for abandoning them after they started faltering.
The Third Circuit held that a parent could not be compelled to produce documents on the ground that the parent and subsidiary were jointly represented. The Court reasoned that the sub cannot unilaterally waive a joint privilege with its parent – and that the parent’s consent would also be required to waive the joint privilege. We have posted a copy of the opinion and related memos in our “Attorney-Client Privilege” Practice Area.
Rule 3500? Ah, That Rule 3500…
In this recent installment of “The Sarbanes-Oxley Report” – entitled “Rule 3500 is a Crock” – Billy Broc provides some critical analysis of Rule 3500. If you don’t recall Rule 3500, this is an important rule and I recommend that you have a summer associate look it up immediately. (And it’s coincidental that “3500” is the Office of Chief Counsel’s voicemail extension.)
Internal Controls Update: AS #5, Management Reports and All that Jazz
We have posted the transcript from our recent webcast: “Internal Controls Update: AS #5, Management Reports and All that Jazz.”
– Broc Romanek