23Dec
Recent Trends in Officer Liability
More than a decade ago in the seminal case Gantler v. Stephens, the Delaware Supreme Court clarified that officers of Delaware corporations owe the same fiduciary duties of care and loyalty that directors owe to the corporation and its stockholders. While directors and officers owe the same fiduciary duties, they are not entitled to the same defenses. Section 102(b)(7) of the Delaware General Corporation Law (DGCL) permits a corporation to adopt a provision in its certificate of incorporation...
By:
Skadden, Arps, Slate, Meagher & Flom LLP
Source Url: https://www.jdsupra.com/legalnews/recent-trends-in-officer-liability-31694/
Related
Suppose you are in-house counsel for a construction company. Your Guaranteed Maximum Price (“GMP”...
Read More >
Private equity fund sponsors can breathe a sigh of relief last week as the First Circuit Court of Ap...
Read More >
Lane Powell Legal Update - The spread of the coronavirus, and reactions to it by both public and pr...
Read More >
In recent years, a number of federal appellant courts, including the Fourth Circuit, have issued opi...
Read More >
The government's latest restrictions will impact owners, contractors, and suppliers. The Victorian...
Read More >
In the final days of its 2019 Session, the New York State Legislature passed three bills that, respe...
Read More >