Myriad Genetics Corporate Governance Reforms Settle Lawsuits
A settlement has been reached in the two lawsuits alleging insider trading by senior leaders at Myriad Genetics Inc., as confirmed by the Delaware Chancery Court. Vice Chancellor Sam Glasscock III has given the green light to a deal that includes some significant corporate governance changes.
Described by Glasscock as “robust and weighty,” these changes consist of hiring new chief compliance and chief scientific officers, adopting a more stringent insider trading policy, appointing a fresh director to the board, establishing a new disclosure committee, and revising the charters for the compensation, research, and finance committees.
The addition of an independent director and increased board oversight are key elements of these modifications, which aim to enhance transparency and accountability within the organization. This settlement marks a significant step towards ensuring fair and ethical practices within Myriad Genetics Inc.
