Director & Officer
Welcome to David A. Browde, P.C., a New York law firm, providing legal representation to individuals and corporations.
In the current economic climate, corporate directors and officers have unique concerns. As stock prices swing wildly and projections that only a short while ago seemed prudent are no longer accurate, litigation is a predictable and, for the corporate director, often a personally stressful outcome.
Trustees in bankruptcy often sue corporate directors, including those who have long ago left the company. Understandably upset shareholders may also file actions.
We understand the concerns a current or former corporate director will have, and have both successfully defended individual directors against these actions.
YOUR COMPANY'S LAWYER IS NOT YOUR LAWYER!
Corporate directors and officers may not realize that the company's attorney represents the company, not the individual executives or directors who work for the company. While the company's in house General Counsel or outside attorneys have interests that are often similar to those of the officers and directors, these attorneys have as their client the company, and not the individual executives or directors.
That's a very important distinction.
Most companies carry a special insurance policy covering directors and officers, known as D&O insurance. These policies almost invariably pay the cost of the director or officer's personal attorneys when defending against litigation against the company and its directors and officers, as well as covering judgments if the company loses the lawsuit.
These policies usually let you choose your own attorney - and, because the company lawyers don't represent the individuals, but the company itself, having your own attorney is important. We have worked with major insurance companies to minimize litigation costs while providing the director or officer with quick analysis of and professional defense against D&O claims.
If a claim has been raised against your company, or if you see the potential of such a claim, please feel free to get in touch for a quick and confidential consultation.
You can always contact David Browde directly here.