Thursday, January 18, 2007 It appears that Clark felt Sarbanes-Oxley--commonly known as SOX--had built an insurmountable wall between his status as a major shareholder and investor at Shutterfly, and his role on the board of directors. "(Sarbanes-Oxley) dictates that I not Chair any committee due to the size of my holdings, not be on the compensation committee because of the loan I once made to the company, (and) not be on the governance committee," he continued in his resignation letter. "It even dictates that some other board member must carry out the perfunctory duties of the Chairman." Is Silicon Valley strangled by SOX?Previous articles Federal Court Rejects Fired Employee’s Sarbanes-Ox...
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