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If the Top People Got Reviews

Publication Date: 
July 21, 2007
Source: 
New York Times
Author: 
Paul B. Brown

Professor Michael Klausner's article in Directorship was referenced in the New York Times' weekly "What' Offline" column:

"Low risk board members frequently worry out loud about the risks of being sued for their decisions, 'but a careful analysis shows that the threat is vastly overblown,' a Stanford law professor, Michael Klausner, writes in Directorship. In a recent study of cases going back to 1980 that he conducted with two colleagues, Mr. Klausner said he found just 13 instances in which 'outside directors made out-of-pocket payments.' Nearly all involved situations that can be avoided today with directors and officers insurance, reasonable coverage limits and proper board processes, he writes."