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The Stone standards continue to be required by Boards, consisting of four requirements for risk oversight that are identified in the Caremark and Stone rulings
The Stone standards continue to be required by Boards, consisting of four requirements for risk oversight that are identified in the Caremark and Stone rulings as essential actions that must be undertaken by the Board in fulfilling its fiduciary duty of risk oversight. By contrast, the second BB case heard by the Delaware Supreme Court is important in that it expanded the Board's duties to consider compliance and oversight over mission critical risks, thus requiring them to be included in the firm's risk oversight program if they are not included in the risk oversight program already. By describing and comparing the risk oversight standards defined in the Chancery court decision to the risk oversight standards defined in the Supreme Court decision.
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