Jerry Silk Featured in New York Law Journal Article re Options Backdating Scandals
July 20, 2006The New York Law Journal ("NYLJ") featured BLB&G partner Jerry Silk discussing the role of institutional investors regarding stock options backdating, the latest of a wave of corporate scandals to come to light.
In the article, “'Biggest Thing Going,” Mr. Silk makes clear that institutional investors, unlike individual investors, have more of the power and resources necessary to lead a successful fight against corporate misconduct, allowing them to be “diligently involved in a case, instead of being a ‘nominal plaintiff’.” According to Mr. Silk, “Institutional investors have the fiduciary experience, sophistication and independence to make demands from defendants that have real teeth.”
Mr. Silk is one of the partners at the firm responsible for advising institutional shareholder clients on legal matters arising out of the options backdating scandal. Among other matters, he is currently representing several institutional investors in the options backdating case, In re UnitedHealth Group, Inc. Shareholder Derivative Litigation, pending in the District of Minnesota, and has appeared frequently in the news as a commentator on option backdating issues.