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Fiduciary Duty Florida

King & Spalding

Florida Appellate Court Holds that Bank Does Not Owe Fiduciary Duties to Customer in Connection with Lending to Third-Party

King & Spalding on

On August 30, 2023, the Florida Third District Court of Appeal affirmed the dismissal of negligence claims against First National Bank of South Miami brought by a group of limited liability companies after a bank customer...more

Fuerst Ittleman David & Joseph

Florida Nursing Home Negligence Update: Florida’s Fourth District Court of Appeal quashes denial of motion to dismiss nursing home...

On August 9, 2023, in Preston v. The Estate of Romanoff, No. 4D23-282 (Fla. 4th DCA August 9, 2023), Florida’s Fourth District Court of Appeal granted a petition for writ of certiorari and quashed the trial court’s order...more

Dechert LLP

Delaware Court of Chancery Bars Stockholder from Inspecting Books and Records Related to Board’s ESG-Related Decision

Dechert LLP on

Proof that an inspection demand is improperly “lawyer-driven” will overcome a stockholder’s pretextual claim for investigating wrongdoing. A stockholder does not have a proper purpose for investigating an “ordinary...more

Wilson Sonsini Goodrich & Rosati

Delaware Court of Chancery Issues Decision on Disney Board’s Obligations in the DeSantis Dispute

On June 27, 2023, Vice Chancellor Lori Will of the Delaware Court of Chancery issued a much-anticipated decision addressing the obligations of the board of directors of The Walt Disney Company (Disney) in overseeing Disney’s...more

Fuerst Ittleman David & Joseph

Florida’s Insurers Rehabilitation and Liquidation Act: What Happens in Florida When Insurers Become Insolvent

Current state of affairs - Even before Hurricane Ian made landfall and devastated southwest Florida in September 2022, six property & casualty insurers had voluntarily declared themselves insolvent and allowed the State to...more

Faegre Drinker Biddle & Reath LLP

Florida Court Decision’s Impact on Rollover Advice

The Department of Labor (the DOL) expanded its interpretation of fiduciary advice in its guidance issued in connection with Prohibited Transaction Exemption (PTE) 2020-02. As a result, many more broker-dealers and registered...more

Roetzel & Andress

Governor DeSantis Signs Senate Bill Establishing Building Safety Act for Condominium and Cooperative Associations

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Yesterday, the Governor signed into law Senate Bill 4-D, passed during special legislative session and which is effective upon becoming law. This Bill is a response to the Surfside collapse last year and modifies Florida...more

Quarles & Brady LLP

The New Florida Directed Trust Act

Quarles & Brady LLP on

Florida recently enacted its version of the Uniform Directed Trust Act, which authorizes someone other than the Trustee (referred to as a Trust Director) to direct the Trustee to act or not to act. Florida is 1 of 15 states...more

Bilzin Sumberg

Florida's Proposed Directed Trust and Community Property Trust Statutes: What You Need to Know

Bilzin Sumberg on

The Florida legislature is currently in the advanced stages of enacting legislation that will make critical changes to the Florida Trust Code. The legislation (SB 1070/HB 609) would enact the Florida Uniform Directed Trust...more

Polsinelli

Florida Legal Update: Laws of Interest Effective July 1, 2020

Polsinelli on

Business Legal Updates - Collegiate Student Athletes Can Now Receive Compensation - With the passing of Section 1006.74, F.S., effective July 1, 2020, intercollegiate athletes at a “postsecondary educational...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending December 6, 2019

Carlton Fields on

Real Property Update - Due Process: Trial court violated developer’s due process rights by considering and ruling upon developer’s motion to quash service of process, which was not set for hearing, despite developer’s...more

Stinson - Benefits Notes Blog

Owner/Trustee of 401(k) Plan Accused of Having Eyes Wide Shut on Fiduciary Duties

Last June I blogged about the trend of participant fee class actions moving down to smaller 401(k) Plans. Occasionally, class actions are brought based on other breaches of fiduciary duties, particularly those involving...more

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