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Breach of Duty Duty of Care

Winstead PC

Does a Trustee Have A Duty to Investigate Whether the Trust Document is Valid?

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Elderly persons often sign new estate documents, including trusts and trust amendments. Certainly, all persons with competence and without improper influences have the right to leave their property to whoever, and however,...more

Foley & Lardner LLP

Delaware Law on Fiduciary Duties and Stockholder Agreements

Foley & Lardner LLP on

Delaware corporate law is renowned for its balance between flexibility in business arrangements and the fundamental principles of fiduciary accountability. One of the areas where this balance is most evident is in the...more

Charles E. Rounds, Jr. - Suffolk University...

Individual Trustee Delegates to Financial Institution the Job of Taking Custody and Keeping Track of Income and Principal: The...

While PC software programs are a practical improvement over the trustee’s hard-copy ledger book, when it comes to keeping track of trust income and principal these programs still require serious clerical monitoring on the...more

Proskauer - Law and the Workplace

New York Clean Slate Act Takes Effect on November 16, 2024, With New Obligations for Employers Running Criminal Background Checks

On November 16, 2024, the New York Clean Slate Act (the “Act”) will take effect.  The Act provides for the automatic sealing of certain criminal convictions after a specified time period.  It will also require greater...more

Orrick, Herrington & Sutcliffe LLP

OLNS#12 – Advisory Boards in German Start-ups

In substantially all of the major world markets, we have dedicated technology lawyers who support young German technology companies on their growth trajectory through all stages. As one of the top tech law firms in the world,...more

Orrick, Herrington & Sutcliffe LLP

OLNS#12 - Beiräte in deutschen Start-ups

Mit unseren auf Technologietransaktionen spezialisierten Teams in allen wichtigen globalen Märkten begleiten wir zahlreiche deutsche Technologieunternehmen auf ihrem Wachstumspfad. Als eine der führenden Tech-Kanzleien...more

Dechert LLP

Cash Sweep Programs Face Increasing Scrutiny from Regulators and Investors

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Recent months have seen a significant increase in litigation around, and regulatory scrutiny by the SEC and FINRA of, cash sweep programs offered to retail advisory clients and brokerage customers. Many of these...more

Kohrman Jackson & Krantz LLP

Cleveland Retirement Fund Sues Elon Musk for Stealing AI Assets from Tesla

Elon Musk’s Ventures and Controversies - Elon Musk is well known for his many ventures as well as his disdain for convention. While serving as the CEO of Tesla, Inc., Musk acquired Twitter (now X Corp.) and founded a private...more

Mayer Brown

Developments and Trends in Delaware Officer Exculpation Charter Amendments

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In August 2022, the Delaware General Assembly amended the Delaware General Corporation Law (“DGCL”) to allow corporations to adopt charter provisions exculpating certain officers from personal liability for monetary damages...more

Hogan Lovells

Delaware Supreme Court holds separate class vote not required for officer exculpation amendment

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In re Fox Corporation/Snap Inc. Section 242 Litigation, the Delaware Supreme Court ruled that corporations do not need to seek votes from each separate stockholder class to approve charter amendments exculpating corporate...more

Rivkin Radler LLP

Insurance Update - May 20 2024

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Careening race cars, missing diamonds, and gold treasure provide some of the backdrop for insurance issues that courts had to decide this past month. We begin in Pennsylvania where the state’s high court reined in some loose...more

Holland & Knight LLP

Delaware Bankruptcy Court Grants Creditors' Committee of Debtor LLC Derivative Standing

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In a recent opinion, In re Pack Liquidating, LLC (Pack Liquidating), the U.S. Bankruptcy Court for the District of Delaware held that under Official Committee of Unsecured Creditors of Cybergenics Corp. v. Chinery...more

Jenner & Block

Fiduciary Duties of Former Directors of Delaware Corporations

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It is well understood that directors of Delaware corporations are subject to the fiduciary duties of care and loyalty. In general, the duty of care requires directors to base their decisions on all material information...more

Littler

Alberta, Canada Court Holds Senior Executive Personally Liable to Employer

Littler on

In Breen v Foremost Industries Ltd, 2023 ABKB 552, the Court of King’s Bench of Alberta dismissed the claim of a President and CEO that he had been wrongfully dismissed from his employment, finding that his employment had...more

Hinshaw & Culbertson - Lawyers for the...

Different Outcomes for Two Law Firms in Legal Malpractice Case Confirm That Lawyers Representing Estate Administrator Do Not Owe a...

Brief Summary - The United States District Court for the Northern District of Illinois held that a law firm representing the administrator in estate proceedings did not owe a duty to a beneficiary of the estate, and the...more

Conyers

Lau Man Sang, James and Others v. King Bun Limited and Others BVIHCMAP2021/0034

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On 7 July 2023, the Eastern Caribbean Court of Appeal handed down judgment in BVIHCMAP 2021/0034 Lau Man Sang, James and Others v. King Bun Limited and Others. Conyers represented the successful Respondents before the Court...more

Hogan Lovells

When push comes to shove - UK Supreme Court issues definitive guidance on banks' Quincecare duties

Hogan Lovells on

The UK Supreme Court in Philipp (Respondent) v Barclays Bank UK Plc (Appellant) [2023] UKSC 25 has confirmed that the so-called "Quincecare duty" – a duty on a bank to refrain from executing a payment instruction from its...more

Morrison & Foerster LLP

What Fiduciary Duties Do I Have as a Director of a Delaware Corporation?

You’re an entrepreneur, you form your first company, and suddenly you carry the title of founder, director, officer, and/or employee all at once. When running your business, it may feel like all of your roles blur together....more

Cooley LLP

A Taxing Question: Just When Does a Duty of Care Arise?

Cooley LLP on

The decision of the Court of Appeal in the closely watched case of David McClean & Ors v. Andrew Thornhill KC helpfully rearticulates the established principles governing when a duty of care may arise and the scope of such a...more

Fox Rothschild LLP

Delaware Court Decision Poses New Liability Risks for Corporate Officers

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A recent Delaware Court of Chancery decision exposes corporate officers to significant liability for breach of fiduciary duties and indicates a trend in Delaware courts in which it is now possible for plaintiffs to assert and...more

Sheppard Mullin Richter & Hampton LLP

Delaware Court of Chancery Holds that Officers of a Delaware Corporation Are Subject to Fiduciary Duty of Oversight

In In re McDonald’s Corp. Stockholder Derivative Litigation, No. 2021-0324 (Del. Ch. Jan. 26, 2023), the Delaware Court of Chancery (Laster, V.C.) held that officers of a Delaware corporation are subject to a fiduciary duty...more

Dechert LLP

Delaware Court of Chancery Issues Significant Decision Addressing Fiduciary Duties of Officers, Including Holding that Officers...

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Corporate officers owe the same fiduciary duty of oversight as directors. Just as with directors, officers fulfill their oversight duty by acting in good faith....more

Faegre Drinker Biddle & Reath LLP

Delaware Chancery MFW Framework Does Not Require Best Deal

As Kahn v. M&F Worldwide Corp. (MFW) establishes, the Business Judgment Rule must be applied to a transaction involving a controlling shareholder, if the deal is conditioned upon the approval of: (1) an independent special...more

Dechert LLP

Delaware Court of Chancery Holds “MFW” Framework Applies to Controller Transaction Despite Substantially Higher Third-Party Offer

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MFW protects controlling-stockholder transactions even when a third-party bidder makes a competing bid that is superior to a negotiated merger with the controller. A special committee will likely satisfy the duty of care...more

Dechert LLP

Hygiène, sécurité et conditions de travail / Sélection de jurisprudence – France / Second semestre 2022

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Cette newsletter revient sur quatre décisions notables en matière d’hygiène, sécurité et conditions de travail : L'absence de formation à la sécurité ne constitue pas un manquement délibéré à une obligation particulière...more

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