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2nd Circuit Rules that Companies May Not Indemnify Executives for SOX 304 'Clawback' Liability
McGuireWoods [Guidance Overview] Nov. 19, 2010
Excerpt: Although the facts in the case involved an indemnification provision in a settlement agreement, the logic of the ruling could extend to indemnification provisions in companies' charter documents and in directors' and officers' liability insurance policies as well.
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