See Credit Details Below
Please note that this program does not offer Bias or Diversity & Inclusion credit in any jurisdiction.
This One-Hour Briefing will explore the rise and use of the “Weinstein Clause” (also known as the “‘#metoo’ Representation”) in M&A transactions. As more and more prominent people have been publicly accused of sexual misconduct – and as the companies they work for have suffered economic repercussions relating to those allegations – the M&A community has taken notice and taken action. The bankruptcy of Weinstein Company, once one of the largest “mini-major” studios in Hollywood, is a prominent example of the emergent risk and “cautionary tale” against “business as usual.” In response to this growing risk to shareholder value, investors are seeking to identify the risk before any damage is done (or at least before the deal is closed). The “Weinstein Clause” is one tool they are using in the effort. The Weinstein representation requires a Selling Company to disclose – or face risk of financial repercussions for failing to disclose -- any sexual misconduct allegations and/or settlements involving the company’s key employees and executives.
Expert faculty will:
- Explore the “Weinstein Clause” trend, including the reasons for it;
- Discuss the operation of the provision in transactions; and
- Address the interplay between the representation, disclosure, indemnification, and insurance.
Steven Boughal: The Hartford
Joseph Ehrlich: Owens Group Insurance
Carrie R. Kurzon: The Hartford