Nine-Steps-Audit-Committee-COD2605-083010

Westlaw Journal Formerly Andrews Litigation ReporterCORPORATE OFFICERS & DIRECTORS LIABILITYLitigation News and Analysis • Legislation • Regulation • Expert Commentary VOLUME 26, ISSUE 5 / AUGUST 30, 2010COMMENTARYWHAT’S INSIDEPOISON PILLS Nine steps to optimization of the audit committee7 Barnes & Noble’s poison pill was reasonable response Officers and directors serving on corporate audit committees should be aware of to threat, court says their increased liability and step carefully in light of a 2010 report that the number YucaipaAm.AllianceFundIIv. of securities suits and the amounts paid to settle them are up sharply, say Barry Jay Riggio (Del. Ch.)Epstein and Elaine Vullmahn of Russell Novak & Co.SEE PAGE 3FIDUCIARY DUTY8 Shareholder says drug firms’ $168 million merger is ‘unfair’ Jacksonv.PenwestPharms.Co. (Wash. Super. Ct.)SUBPRIME8 Raymond James Financial wins dismissal of subprime fraud suit Woodwardv.RaymondJamesFin. (S.D.N.Y.)9 JPMorgan asks judge to boot subprime mortgage suit FortWorthEmployees’Ret.Fundv.JPMorganChase&C o.(S.D.N.Y.)BOOKS & RECORDS10 Delaware high court says ruling did not make it too tough to use records action CityofWestlandPolice&FireRet.Sys.v.AxcelisTechs. (Del.)11 Morgan Stanley shareholder REUTERS/Robert Galbraithseeks directors’ reason for dismissal move BREACH OF DUTY La.Mun.PoliceEmployeesRet.Sys.v.MorganStanley& McAfee sold its future ...