Mack Sperling

Mack Sperling

Brooks Pierce

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The Delaware Court Of Chancery Can See Forever On A Clear Day (Even To North Carolina)

I don't usually write about decisions from the Delaware Court of Chancery because it's rare for that Court to even mention North Carolina. But a decision by that Court this week -- in City of Providence v. First Citizens...more

9/15/2014 - Breach of Duty Bylaws Fiduciary Duty Forum Forum Selection Clause

When Winding Up A Corporation Don't Do This

I don't know any lawyers who specialize in winding up corporations, but if any of you are out there, you should read this post. It is important to remember, when winding up a corporation, that "principals and directors...more

9/3/2014 - Board of Directors Breach of Duty Fiduciary Duty Insolvency

Pro Se Defendant Wins Trial On Breach Of Fiduciary Duty Claims In Business Court

When I was a young pup preparing to go to court against the uncommon adversary who was proceeding without a lawyer, I would joke that "I hope I don't lose." Luckily, I never did....more

7/9/2014 - Breach of Duty Fiduciary Duty Pro Se Litigants

Never Give Up? Never Surrender? Probably Bad Advice In The Business Court

Section 6-21.5 of the North Carolina General Statutes is the closest thing the State has to "loser pays." It allows for the award of attorneys' fees to a prevailing party "if the court finds that there was a complete absence...more

1/24/2014 - Attorney's Fees Breach of Duty Fiduciary Duty

The NC Supreme Court Speaks On Fiduciary Duty And Piercing The Corporate Veil

The best lines in Green v. Freeman, decided last week by the NC Supreme Court, are that "[t]he doctrine of piercing the corporate veil is not a theory of liability. Rather, it provides an avenue to pursue legal claims against...more

11/14/2013 - Breach of Duty Corporate Veil Fiduciary Duty

Don't Sue A North Carolina Board Of Directors Over A Merger Without Reading This Case

Last week's Order in Gusinsky v. Flanders Corp., 2013 NCBC 46, should be required reading for lawyers thinking of suing the directors of a corporation in North Carolina over a merger transaction. It provides guidance on the...more

10/4/2013 - Board of Directors Derivative Suit Disclosure Requirements Fiduciary Duty Pleadings Professional Liability Shareholders

50% Shareholder Didn't Owe Fiduciary Duty To His 50% Co-Shareholder

This week's decision from the Business Court in Maurer v. Maurer, 2013 NCBC 44 is a continuation of the litigation between Jill Maurer and the company owned by her and her husband, which was the subject of three Business...more

8/28/2013 - Board of Directors Derivative Suit Divorce Fiduciary Duty Shareholders

Usurpation Of Corporate Opportunity Yields Preliminary Injunction

A breach of fiduciary duty by the Defendants resulted in a sweeping preliminary injunction in an Order entered by the Business Court last Friday, in Esposito v. Esposito....more

6/6/2013 - Fiduciary Duty Injunctions Internal Affairs Doctrine Irreparable Harm Usurped Business Opportunity

Delaware Law On Derivative Actions And Fiduciary Duties

If you are a derivative action plaintiff, and you make a demand on an LLC to take action which is then considered and rejected, may you still pursue your claims? Judge Murphy answered that question, and others relating to...more

12/6/2012 - Derivative Suit Fiduciary Duty

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