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Directors Negligence

Dickinson Wright

Supreme Court Confirms Shareholders Cannot Sue Professional Advisors for Corporation’s Losses

Dickinson Wright on

Just a few weeks ago, the Supreme Court of Canada released a decision which confirmed that shareholders cannot sue third parties such as accountants or lawyers for negligent advice that causes losses to the corporation they...more

Alston & Bird

Jury Applies Georgia’s Business Judgment Rule

Alston & Bird on

On October 25, 2016, a jury in the U.S. District Court for the Northern District of Georgia rejected the Federal Deposit Insurance Corporation’s (FDIC) argument that former directors and officers of The Buckhead Community...more

Allen Matkins

Nevada’s Business Judgment Rule: FDIC – 4; Management – 0

Allen Matkins on

In recent weeks, the U.S. District Court has issued four separate rulings in cases brought by the Federal Deposit Insurance Corporation (FDIC) against former bank managers for breach of fiduciary duty. Here is a brief recap...more

King & Spalding

FDIC v. Loudermilk, et al.—Georgia’s Business Judgment Rule (and Its Limitations)

King & Spalding on

On July 11, 2014, the Georgia Supreme Court issued its highly anticipated decision in FDIC v. Loudermilk, addressing squarely the extent to which Georgia’s business judgment rule shields bank directors and officers from...more

Sherman & Howard L.L.C.

Does the Business Judgment Rule Protect Bank Officers and Directors?

When a corporation suffers significant losses, or ultimately fails, frustrated shareholders, creditors, or others often try to sue the corporation and/or its officers and directors for losses caused by mismanagement of the...more

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