Perspective
Sep. 9, 2016
CEO misconduct not required
Last month, the 9th Circuit became the first circuit to hold that CEOs and CFOs may be required to pay back bonuses after restatement of their company's financials, even if the executives did not engage in misconduct. By Ethan Dettmer and Noah Stern
Last month, the 9th U.S. Circuit Court of Appeals became the first circuit to hold that CEOs and CFOs may be required to pay back bonuses and other incentive-based pay after restatement of their company's financials, even if the executives did not engage in misconduct leading to the restatement. Though the Securities and Exchange Commission has brought clawback actions against executives not accused of personal mi...
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