Delaware Chancery Court Holds that No Per Se Fiduciary Duty to Minimize Corporate Taxes Exists

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On June 29, 2012, the Delaware Chancery Court dismissed a derivative lawsuit alleging breach of fiduciary duty for corporate waste for failure to minimize the corporation's taxes because the court found that there is no general fiduciary duty to minimize taxes under Delaware law.

 

Topics:  Corporate Taxes, Derivative Suit, Fiduciary Duty

Published In: Business Organization Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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