Abstract
Directors of public and private companies face increased scrutiny and potential attacks on several fronts. Those include 1) government enforcers and plaintiffs taking directors9 personal assets; 2) governance reforms enacted at the state and federal level; 3) court rulings which strip directors of the attorney-client privilege; 4) attacks against the safe harbor of the business judgment rule; and 5) insurers trying to rescind directors9 insurance policies. Directors can take steps to protect themselves while still meeting the higher standards. These include hiring independent counsel for non-management directors, restructuring the D&O insurance program, and taking particular actions if the company winds up in bankruptcy.
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