Fiduciary Duties

Just last year, in assessing the extent to which a director has a duty to oversee a corporation’s business affairs, the Business Court noted the “limited guidance” afforded by state

Continue Reading Corporate Director Duty to at Least “Try” to Carry Out Oversight Functions May Soon Extend to Company Officers

When Philip Harvey died in December 2021 he owned more than 400 shares of common capital stock in PHE, Inc., a Hillsborough, North Carolina-based business that sells sexual wellness

Continue Reading Sex Toy Titan Sues Estate of Founder to Compel Redemption of Shares Whose Value May Exceed $60 Million

The minority shareholders of a podiatry practice felt like they had been kicked around by the alleged financial misadventures of two colleagues who together controlled an 80 percent interest. A

Continue Reading Minority Shareholders can “Follow the Money” Linked To Alleged Diversions by Majority for Phantom Salaries and Benefits

Discord within a faith community comes with all the challenges of a secular dispute, but carries with it the special responsibility that members of a congregation share in a collective
Continue Reading In a Church Divided, Secular Courts Have Limited Tools to Rejoin What a Congregation has Put Asunder

The Business Court sorted through the drama of an affiliated outsider who wanted to buy a company, settled for half and became an insider, and then allegedly used that perch
Continue Reading N.C. Business Court Declines to Adopt Rule that a Minority Shareholder Exercising “Actual Control” Could Have Fiduciary Duty to Other Shareholders.