News & Analysis as of

Ontario Court Of Appeal Upholds Finding of Breach of Fiduciary Duty Respecting Executive Compensation

The Ontario Court of Appeal recently upheld a trial court decision which concluded that the CEO, who was also a director, breached his fiduciary duty to the corporation when the directors of Unique Broadband Systems, Inc....more

Venture Capital Firm Liable For "Aiding And Abetting" Breach Of Fiduciary Duty

A recent case in the California Court of Appeals underscores the dangers that await venture capital firms brave (or foolish) enough to fund companies in the midst of internal disputes. In American Master Lease LLC v Idanta...more

First Circuit Finds for Life Insurer in ERISA Class Action Challenging Retained Asset Accounts to Pay Life Insurance Benefits

In a unanimous panel decision, the U.S. Court of Appeals for the First Circuit reversed a trial court’s ruling that the defendant, Unum Life Insurance Company of America (Unum), had breached fiduciary duties under the...more

Lenders Across North Carolina Can Breathe Sigh of Relief - NC Supreme Court reverses decision in significant banking litigation

In a case that has implications for all banks in North Carolina, the North Carolina Supreme Court removed a cloud of uncertainty that has remained over the North Carolina banking industry for more than 18 months. The Supreme...more

Appellate Court Notes: Week of March 10

SC19095 - Edgerton v. Clinton / SC19095 Dissent - Edgerton v. Clinton - Town appealed a $12 million jury verdict when a volunteer fire fighter was sideswiped and then took off after the offending vehicle. He relayed to...more

Huff v. Longview Energy Co., C.A. No. 8453-CS (Del. Ch. Aug. 12, 2013) (Strine, C.)

In this letter opinion, the Court of Chancery granted the defendant corporation’s (“Longview”) motion to dismiss the complaint of two of its directors (the “Directors”), who sought indemnification from Longview, because the...more

No Bad Faith Recovery Unless Insured Demonstrates Acts Were A Producing Cause Of Damages

A jury found that Mid-Continent committed five separate violations of the Texas Insurance Code and awarded $2 million to the insured as compensation for the amount it paid to settle third-party claims. The trial court,...more

District Court Considers Evidence Outside Administrative Record

Helton v. AT&T, Inc. No. 11-2153, 2013 WL 812118 (4th Cir. Mar. 6, 2013) - In Helton v. AT&T, Inc., the Fourth Circuit Court of Appeals affirmed the district court’s consideration of evidence outside of the...more

Illinois Supreme Court Grants Leave to Appeal Controversial Condominium Decision

May a condominium owner refuse to pay monthly and/or special assessments, in whole or in part, on the grounds that the condominium board had failed to maintain and repair the common elements of the condominium property? In...more

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