Money Talks, Be Prepared to Greet It

Oct 4, 2013

Reading Time : 1 min

So as a part of your regular crisis management planning, your full board and your management team need to prepare yourselves for the uninvited neighbor who may decide to drop in at any time:

  • designate a committee of your board to work with management to devise a “preparedness action plan,” with board members playing the role of potential activists - probe, prod, critique, criticize‎
  • identify likely points of contention through a variety of sources, including social media, and consider whether there is any merit to them
  • prepare bullets points that explain and rationalize (rather than defend) your position
  • ‎‎appoint designated spokesperson(s) (who may vary depending on the situation)
  • enlist legal advisors (so long as they’ve been to the rodeo before, too) so you appreciate disclosure obligations
  • ‎identify and familiarize yourself with outside crisis communications firms, just in case you need backup
  • practice‎, practice, practice.

Money isn’t going away. And neither is the desire to make it. Accordingly, you can pretty much assume that the bell may ring sometime during the night.  Wake up now and know what you (and all of your colleagues) want to say if you have to open that door.

Share This Insight

Previous Entries

Akin Deal Diary

April 12, 2023

Read More

Akin Deal Diary

2022-12-15

On December 14, 2022, the Securities and Exchange Commission (SEC) adopted amendments regarding Rule 10b5-1 insider trading plans and related disclosures. The amendments aim to strengthen investor protections concerning insider trading and to help shareholders understand when and how insiders are trading in securities for which they may at times have material nonpublic information (MNPI). In light of these amendments, issuers should review and revise, if needed, their insider trading policies and equity grant policies.

Read more.

...

Read More

© 2024 Akin Gump Strauss Hauer & Feld LLP. All rights reserved. Attorney advertising. This document is distributed for informational use only; it does not constitute legal advice and should not be used as such. Prior results do not guarantee a similar outcome. Akin is the practicing name of Akin Gump LLP, a New York limited liability partnership authorized and regulated by the Solicitors Regulation Authority under number 267321. A list of the partners is available for inspection at Eighth Floor, Ten Bishops Square, London E1 6EG. For more information about Akin Gump LLP, Akin Gump Strauss Hauer & Feld LLP and other associated entities under which the Akin Gump network operates worldwide, please see our Legal Notices page.