35 Quotes by Charles Elson

He's a very bright guy. He'll figure his way out of this. The financial world is a very small place. When you're on the board of a company engaged in financial transactions, this sort of thing may happen.

When they pressure management to defend itself, it creates greater accountability. It forces management to explain its reasoning. The other shareholders can make up their minds whether they agree or disagree. Let the shareholders decide.

I think it's a smarter move on his part.

That would go an awful long way to restoring confidence,

When you see something like this, it begs asking what failure in their system led to this. Why didn't anyone pick it up?

Those are big numbers. Almost a third of the shareholders who voted are expressing discontent.

Trading on stock on nonpublic information is legally problematic for the SEC, absolutely. But to get to liability is a pretty long road. It doesn't happen very easily.

The fact that directors might go without pay is meaningful. It shows, on the part of the directors, confidence that the company has a good future.

When a consultant does other work for the company, it creates either the actual danger or perceived danger of a conflict of interest. The consultant should either work for the board, or work for the company.