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What You Should Know / November 16, 2009

donohue2 -- Nov. 16 (Bloomberg) -- Tom Donohue, president of the U.S. Chamber of Commerce, should be voted off the board of Sunrise Senior Living Inc. for failing in his oversight duties during an accounting scandal, two shareholder advisory companies said. RiskMetrics Group Inc. “believes that the chronic and serious nature of the accounting issues, potential stock option misdating, and potential insider trading is indicative of a significant lack of oversight on the part of the board,” the New York-based firm said in a Nov. 6 report. Sunrise was the target of a shareholder lawsuit filed in 2007 by pension funds, which said board members including Donohue sold stock before the company revealed accounting errors and delays.

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