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Minority shareholders may owe fiduciary duties and steps that shareholders can take to eliminate any fiduciary duties they might owe. New York, Michigan, Massachusetts, and Washington, D.C., minority shareholders of corporations owe fiduciary duties as shareholders.
Tola v. Bryant, California Court of Appeal applied Delaware’s new formulation of the test for determining whether a stockholder has standing to assert derivative claims on behalf of a company. Tola difficulties stockholder plaintiffs face attempting to usurp corporate claims
In Tola v. Bryant, No. 16150, 2022 Cal. App. LEXIS 241 (Cal. App. Mar. 24, 2022), the First Appellate District of the California Court of Appeal applied Delaware’s new formulation of...
DOVER, Del. (Legal Newsline) -The Delaware Supreme Court revived a woman’s lawsuit against the company that made a grinding device her late husband said he used decades before he was diagnosed with asbestos-related cancer, saying there was enough evidence for it to proceed.
Corporate boards are subject to a duty of oversight. The Delaware Court of Chancery issued several opinions addressing duty of oversight claims where they held the plaintiffs successfully met the Caremark standard.