I have provided below a link to a discussion on The D&O Diary about possible insurance claims that might arise from the coronavirus. As is typical from The D&O Diary, the discussion is factual and helpful reading.
In summary, for example, the discussion covers company corona-related disclosures such as the correctness of disclosures that already have been made, and disclosures that possibly should be made; possible claims relating to company mismanagement such as alleged failures of management to respond sufficiently or appropriately to dramatically changed operating conditions, disruptions and difficulties; and possible claims between and among customers, vendors, suppliers, and competitors. Obviously these are rapidly ongoing and changing circumstances that will have legal ramifications.
The following is a link to The D&O Diary post: https://www.dandodiary.com/2020/03/articles/director-and-officer-liability/the-risk-of-coronavirus-related-do-claims/
Best to you, Dave Tate, Esq.
Remember, every case and situation is different. It is important to obtain and evaluate all of the evidence that is available, and to apply that evidence to the applicable standards and laws. You do need to consult with an attorney and other professionals about your particular situation. This post is not a solicitation for legal or other services inside of or outside of California, and, of course, this post only is a summary of information that changes from time to time, and does not apply to any particular situation or to your specific situation. So . . . you cannot rely on this post for your situation or as legal or other professional advice or representation.
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Best to you, David Tate, Esq. (and inactive California CPA) – practicing in California only.
I am also the Chair of the Business Law Section of the Bar Association of San Francisco.
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