The Winter 2007 edition of Professional Liability Litigation Alert, a publication of the American Bar Association, features two timely articles by Peter L. Welsh, a Ropes & Gray associate who concentrates his practice in corporate governance and securities litigation. In the first article, Welsh analyzes the Delaware Supreme Court's June 2006 decision in the highly publicized dispute involving the severance package awarded to Michael Ovitz, the former head of the Walt Disney Company. In his article, Welsh contends that the case was significant because Delaware's high court restored the "all-important distinction between a breach of the fiduciary duty of care, on the one hand, and a breach of the fiduciary duty of good faith, on the other hand." In the second article, Welsh looks at Stone v. Ritter, issued by the same court in November 2006, and concludes that Stone solidified the Court's holding in the Disney dispute. To read both articles, please "Download PDF".