Protections Remain in Place for Ga. Officers, Directors
Atlanta partners Tim Mast and Tom Bosch, and Atlanta associate Mary Weeks had their July 16 Securities Litigation advisory published July 22 on Law360 – “ Protections Remain In Place For Ga. Officers, Directors.”
“On July, 11, 2014, the Georgia Supreme Court issued its highly-anticipated decision in FDIC v. Loudermilk, in which it confirmed that Georgia’s business judgment rule applies to directors and officers of banks and clarified the extent of its protections for both bank and corporate directors and officers,” the authors stated in a previous summary. “Specifically, the Court held that Georgia’s business judgment rule protects bank and corporate officers and directors from ordinary negligence claims that question the wisdom of particular decisions, but not from ordinary negligence claims that challenge the process by which a decision was made.”