Abstract
This study focuses onU.S. shareholder derivative cases in which Audit Committee members were defendants.Threegrounds for Audit Committee liabilitywere alleged in those cases: (1) violation of the Fiduciary Duties of Care, Loyalty or Good Faith, which may include failure to provide proper oversight;(2) violation of the Securities Exchange Act (SEA) by issuing an untrue statement regarding the sale of a security; and (3) violation of the SEA because Audit Committee members may be considered to be control persons.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
