Delaware | The FCPA Blog

Editors

Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Posts Tagged: Delaware

Board-level ‘risk committees’ are great, unless they destroy the company

Richard L. Cassin May 18, 2023

An alarming aspect of the March meltdown that took out Silicon Valley Bank (SVB), Signature Bank, and First Republic Bank is that each had a stand-alone risk committee. We need to know what went wrong because risk committees are now commonly found at “most large companies,” according to a Big Four audit partner I talked to, and are assumed to protect against imprudent governance and management.… Continue Reading

Delaware judge tosses shareholder suit against Walmart directors

Richard L. Cassin May 16, 2016

A Delaware judge Friday dismissed a shareholder lawsuit against the directors of Wal-Mart Stores Inc. that alleged the directors failed to conduct a proper investigation into allegations of bribery in Mexico.… Continue Reading

Mike Scher: Federal healthcare guidance already demands Compliance 2.0 standards

Michael Scher April 27, 2015

During the past month, I’ve been in London at the SCCE European initiative conference and last week at the Florida convention of the Health Care Compliance Association. The month has been an opportunity to gain some new perspective on the community of global compliance officers.… Continue Reading

Open letter to the ‘New Walmart’ about Delaware litigation

Michael Scher September 29, 2014

Image courtesy of Walmart Stores IncWalmart has not produced any of the files ordered released by the Delaware Supreme Court in its July 23 opinion. The Delaware case could be dismissed in a chain reaction involving a similar case in Walmart’s home state, Arkansas, before any files are produced.… Continue Reading

Where’s BofA’s $17 billion going?

Richard L. Cassin August 21, 2014

Bank of America is paying $16.65 billion to settle fraud claims by federal and state enforcement agencies and regulators that relate back to the financial crisis of 2008. It’s “the largest civil settlement with a single entity in American history,” the DOJ said Thursday.… Continue Reading

Walmart’s wall of silence comes tumbling down

Michael Scher July 28, 2014

The veil of secrecy that the “old” Walmart drew over bribery allegations in Mexico since 2005 is falling apart. One reason is because the “new” Walmart has taken robust compliance initiatives and is more transparent.… Continue Reading

Walmart in Delaware is ‘tectonic,’ or it’s not

Richard L. Cassin July 22, 2014

A report about the oral argument in the Walmart case before the Delaware Supreme Court that appeared in The Chancery Daily caught our eye.

It said:

___________

By chance meeting at last week’s oral argument before the Delaware Supreme Court in Wal-Mart Stores, Inc.

Walmart: Final thoughts on a missing witness, and settlement

Michael Scher July 16, 2014

I’ve been talking this week about Indiana Electrical Workers Pension Trust Fund IBEW v. Wal-Mart Stores Inc., CA No. 7779-CS, Delaware Chancery Court (Wilmington). My prior posts are here and here.… Continue Reading

Walmart in Delaware: A tale of red flags ignored

Michael Scher July 15, 2014

At oral argument Thursday in the Delaware Supreme Court, where Walmart is appealing a lower court order to produce internal FCPA investigation files to shareholders, one remarkable exchange indicated that the idea of revising the Caremark standards, which I talked about in my prior post, was squarely on the minds of the justices.… Continue Reading

Walmart decision in Delaware could reset compliance roles

Michael Scher June 30, 2014

The Delaware Supreme Court will hear oral arguments on July 10 for the Walmart case that I discussed in a recent post on the FCPA Blog. The issue is whether the Walmart board, or certain directors, knew about the alleged bribery and cover up from 2006 until 2012.… Continue Reading

Mike Scher has his eyes on Delaware

Michael Scher April 21, 2014

A pending case — largely ignored by the compliance profession and the press — brings before the courts one of the most troubling issues of the Wal-Mart investigation: Was the Wal-Mart Board of Directors misled during 2005-2012 regarding an alleged Mexican bribery scheme and subsequent cover-up?… Continue Reading

Mike Scher roots for Wal-Mart (and so should the rest of us)

Michael Scher March 31, 2014

The International Anti-Corruption Academy’s Wittgenstein Villa reminds us to use our time and freedom well. I’m thinking about Siemens (which helps fund the IACA). And I am wondering if an historic reckoning for Wal-Mart could have positive consequences for all compliance officers and the global public.… Continue Reading