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Corporate Governance

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Companies' responsibility

Companies have the responsibility to oversee the fair and ethical compliance with their policies and systems that maximize shareholder value and ensure fairness.

Corporate governance matters that can be addressed through shareholder litigation include the following:

  • The nomination and election procedures for directors and committees;
  • The structure of the board of directors and its affiliated committees;
  • The rights and responsibilities of shareholders;
  • The supervision of management and the enforcement of accountability for any non- compliance;
  • The creation of risk assessment or compliance programs;
  • The creation or refinement of policies and procedures regarding executive compensation; and
  • ESG compliance and the accurate reporting of ESG compliance.

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When a company’s board of directors breach their fiduciary duties, the company’s value can suffer, negatively affecting shareholders. In such cases, shareholders have a right to bring a lawsuit to improve the company’s oversight and ethical standards, and therefore its overall worth, and to help prevent future corruption and non-compliance.

Corporate governance reforms Sturman LLC has achieved in shareholder litigation include:

  • The removal of wrongdoers from managerial / board positions of authority;
  • The alteration of compensation policies and procedures;
  • Changing internal accountability processes;
  • Modifying management’s reporting responsibilities;
  • Increasing the number of independent directors;
  • Adding board committees to oversee management and monitor misconduct; and
  • Improving the company’s public disclosure transparency;
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