Claws Out: SEC Adopts Rules Requiring Listed Companies to Clawback Erroneous CompensationBy Jay SchleppenbachMay 2023Clawback provisions, which allow companies to recover incentive pay granted to executives for achieving financial performance targets on the basis of decisions and actions that subsequently turn out to be ethically and legally questionable, have become increasingly common in recent years.
The Dangers of Anti-Reliance, Integration, and General Release Provisions in Sales of StockBy Charles W. MurdockMay 2023In Walworth Investments-LG, LLC v. Mu Sigma, Inc., the Illinois Supreme Court issued an opinion that emphasizes the need for any attorney representing a shareholder selling stock to the corporation or a controlling shareholder to exercise due diligence in determining the basis for the shareholder’s decision to sell and in drafting or reviewing the sales agreement.
Trade Secret: An Overview for Illinois Business and In-House AttorneysBy Ahad SyedMay 2023Illinois business attorneys and in-house counsel should review the recently enacted Protecting American Intellectual Property Act, which seeks to protect trade secrets from theft that detrimentally harms U.S. security and economic or financial stability.
Two Cheers for OrdersBy Sherwin D. AbramsMay 2023Inevitably, the appellate court will issue poor decisions. At least let them be non-precedential orders.
