If you are an active participant in the corporate affairs of the company for which you sit on the board, you have very little to worry about when it comes to SEC actions, or even class action lawuits. Just keep in mind that directors are custodians of the stockholders' money. They are serving to protect the stockholders, not to protect management.
These appear to be trying times for officers and directors of publicly held companies. But are they really? Many people involved on the management and directorate level with public companies are quite leery nowadays. But should those of us involved with corporate boards and corporate governance be afraid, or just cautious? In my opinion, there is no real need for concern.
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