Corporate Responsibility: The Board of Directors’ Duty of Oversight Part II - Practical Applications and Limiting Director Liability

09/01/2002

Corporate Responsibility: The Board of Directors’ Duty of Oversight: Part II – Practical Applications and Limiting Director Liability

The information set forth below constitutes Part II of a two-part Alert regarding the board of directors’ duty of oversight.  Part I of this Alert defined the duty of oversight and distinguished it from the board’s responsibilities in the decision making context.  Part I is available on our web site at Corporate Responsibility: The Board of Directors’ Duty of Oversight: Part I. Here, Part II defines the standard of care applicable in the oversight context, identifies situations in which breaches of the duty may result, and explores whether corporations may limit director liability under the duty.

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