California Employment Law Update

Tag Archives: corporate officers

Corporate Officers Are Liable For $2.5 Million In Civil Penalties For Underground Tank Leak

People v. Roscoe, 169 Cal. App. 4th 829 (2008) John and Ned Roscoe, officers, directors, and shareholders of a family company (The Customer Company) whose underground storage tank leaked over 3,000 gallons of gasoline into the ground, were found liable along with the company for $2,493,250 in civil penalties under the state’s “tank laws.” The … Continue Reading

Company’s Proposed Payments To Corporate Officials Were Not Subject To Retention Under Sarbanes-Oxley Act

SEC v. Gemstar-TV Guide Int’l, 367 F.3d 1087 (9th Cir. 2004) As part of its announced plans to restructure its management and corporate governance, Gemstar-TV Guide entered into negotiations for termination agreements with its CEO and CFO. The CEO’s termination agreement provided for a “termination fee” of $22.45 million, an additional $7.03 million in unpaid … Continue Reading

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