Shearman & Sterling LLP multinational law firm headquartered in New York City, United States.

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Jul 03, 2012

Always "on duty" - Own risk analysis for significant transactions of the company mandatory for members of its supervisory board

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The failed Volkswagen acquisition by Porsche SE once again is the subject of a legal challenge. The so-called "Piech"-decision by the Higher Regional Court of Stuttgart (OLG Stuttgart) dated February 29, 2012 (case no.: 20 U 3/11) substantiates the requirements for members of the supervisory board to act in line with their duties in the context of transactions that are of particular significance for the company due to their volume, the risks associated with them or their strategic role.

View ful Memo, Always on duty - Own risk analysis for significant transactions of the company mandatory for members of its supervisory board