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Thank you for posting Ted Dziekanowski. As one door closes another door opens, Tas ‘the Laster decision provides a different route to accountability via a Caremark claim for breach of the duty of loyalty’.
This is a really important article. It implies that the door has been cracked open for corporate officers to be held accountable for decisions they, make alongside corporate directors in Delaware. Does this decision have the potential to increase the legal risk of officers of corporations that include CISOs and CTO, for the management of cybersecurity and cyber risk?
‘a Chancery Court judge explicitly ruled on Wednesday, in a first-of-its-kind decision, that corporate officers owe a fiduciary duty of oversight to their company, just like the corporate board members whose oversight duties were articulated in the famous 1996 decision In re Caremark International Inc.’
Site this alongside the cybersecurity risk management regulation coming out of the U.S and EU. Has the door been cracked open for precedent setting cases against officers, who are responsible for managing the day to day, by shareholders.
Rachel V. Rose, JD, MBA
#cybersecurity #cyberriskmanagement #cyberregulation #theaugustagroup #cyberlegal #cyberegulation
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