In Episode Four, John and Stephanie discuss how corporate boards and officers should respond to negative financial news and specifically the speculation that a recession in 2023 appears inevitable. Stephanie and John look at this topic through the lens of the liability risks that a recession – and talk of a recession – pose for directors and officers. First, using the comparison of the COVID pandemic, they explore how company leaders and decision makers might be faulted for failing to prepare for a recession. That leads to a discussion of how boards should communicate with shareholders about recession concerns. Finally, they talk about how a recession can disrupt a company’s prior decisions and existing commitments on a variety of issues, such as ESG, recruiting and compensation.

You can listen to the podcast episode below or for easy access on the go, listen to the podcast on the PLUS Connect App.

Meet the Speakers

Stephanie Resnick is a partner at Fox Rothschild, a national law firm, and is co-chair of the firm’s Directors’ and Officers’ Liability and Corporate Governance Practice Group. Consistently recognized both regionally and nationally for her skills as a business trial lawyer, Stephanie is lauded by her colleagues and peers for her strategic handling of high-stakes, complex business disputes in the federal and state courts of Pennsylvania, New York, New Jersey and beyond.

For 14 years, Stephanie has been ranked by Chambers USA as a leading litigator in Pennsylvania. She’s known for taking the lead in high stakes, bet-the-company litigation and defending corporate boards and officers in complex and protracted litigation. Stephanie is a former managing partner of Fox’s Philadelphia office and a past chair of its nationwide Litigation Department. 
John Cornell Fuller is also a partner at Fox Rothschild and is the other co-chair of the firm’s Directors’ and Officers’ Liability and Corporate Governance Practice Group. John has extensive experience defending directors and officers of public and private corporations in claims stemming from the discharge of their duties and management decisions.

John handles a range of international disputes on behalf of domestic and international clients. Having earned an LL.M. in International and European Law from the University of Amsterdam, he offers clients a keen understanding of the various U.S. and foreign regulations affecting international trade, including customs and import compliance, export restrictions and U.S. sanctions programs and the Foreign Corrupt Practices Act.