News & Analysis as of

Fiduciary Duty Professional Liability

Rumberger | Kirk

Viewpoint: Early Action Key to Mitigating Risk in Professional Liability Claims

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Professional liability claims impact a multitude of professions, including those in the legal, medical, financial and insurance industries. Claims for malpractice, breach of contract, breach of fiduciary duty and related...more

Hinshaw & Culbertson - Lawyers for the...

A Defense Win in Texas on the Issue of "But For" Proximate Causation in a Legal Malpractice Case

Forshee v. Moulton, 2024 Tex. App. LEXIS 2520 (Houston [14th Dist.] April 11, 2024) - Brief Summary - The Texas Court of Appeals held that when a plaintiff's claim against her former attorney properly is grounded in...more

DRI

Non-Compete Clauses and Professional Liability

DRI on

Non-compete provisions have long been viewed by employers as reasonable and appropriate velvet handcuffs on departing employees and as an unfair burden on competition by the departing employees. The purpose of non-compete...more

Robins Kaplan LLP

When Lending a Hand Results in Liability

Robins Kaplan LLP on

In a typical lender-borrower relationship, the lender owes the borrower no fiduciary duty. However, this general rule is set aside when the lender knowingly undertakes to act on behalf of and for the benefit of another. Such...more

Allen Matkins

Is This The Case That Ate Delaware Corporate Law?

Allen Matkins on

In a recent feature published by the Washington Legal Foundation, UCLA Professor Stephen Bainbridge casts a jaundiced eye toward Vice Chancellor J. Travis Laster's recent ruling in In re McDonald's Corp. Stockholder Deriv....more

Allen Matkins

Officer Exculpation Is Old News And Automatic In This State

Allen Matkins on

Delaware's decision last summer to amend Section 102(b)(7) to permit the exculpation of certain officers for direct (but not derivative) stockholder suits for monetary damages for breach of fiduciary duty is attracting a...more

Allen Matkins

Delaware Now Authorizes Exculpation Of Officers, But On What Basis?

Allen Matkins on

Effective August 1, 2022, Delaware amended Section 102(b)(7) of its General Corporation Law to allow a Delaware corporation to include in its certificate of incorporation a provision exculpating certain of its officers. ...more

Wiley Rein LLP

Duty to Defend Where Complaint Contains Potentially Covered Allegations

Wiley Rein LLP on

The United States District Court for the Southern District of Florida, applying Florida law, has determined that two lawyers professional liability insurers had a duty to defend where the underlying complaint included at...more

Wiley Rein LLP

Legal Malpractice Lawsuit Not Covered Where Insured Knew or Reasonably Should Have Known Pre-Inception of Conduct that Might Be...

Wiley Rein LLP on

The United States Court of Appeals for the Eighth Circuit, applying North Dakota law, has held that a lawyers professional liability policy did not provide coverage for a legal malpractice lawsuit where the insured knew or...more

Hinshaw & Culbertson - Lawyers for the...

Georgia Malpractice Judgment Reversed Because Trial Court Improperly Allowed Jury to View Complaint With Dismissed Claims

A Georgia appellate court held that plaintiff's nearly $6 million damage award was improper because the trial court permitted the jury to view a copy of the complaint which included allegations and claims that had been...more

Womble Bond Dickinson

Real Plaintiffs’ TCPA Lawyers of Florida: Brawl Between Two Law Firms Over a Class Settlement with the Tampa Bay Bucs Proves a...

Womble Bond Dickinson on

Sit back and grab your popcorn. I’m about to tell you about a recent ruling involving a fight over a class settlement with the Tampa Bay Buccaneers in a junk fax TCPA class action. While this story might sound like it’s...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Even if you’re doing your job as a plan sponsor, you still can get sued

The fact is that sometimes, bad things happen to good people. That can be said about retirement plans and the good plan sponsors and providers who do their job. No matter how great a job you do, the threat of potential...more

Hinshaw & Culbertson LLP

Life Insurance Industry Loses Challenge to Department of Labor Fiduciary Liability Rules

Hinshaw & Culbertson LLP on

The National Association for Fixed Annuities v. Perez, Civ. 16-1035 (RDM), United States District Court for the District of Columbia, November 4, 2016 In a widely anticipated ruling, the National Association for Fixed...more

Bryan Cave Leighton Paisner

2015 Georgia Corporation and Business Organization Case Law Developments

This survey covers the legal principles governing Georgia businesses, their management and ownership. It catalogs decisions ruling on issues of corporate, limited liability company and partnership law, as well as transactions...more

Cadwalader, Wickersham & Taft LLP

Chancery Court Provides Lessons on Conflicts of Interest in a Sales Process – Holds Only Financial Advisor Open to Liability

In an October 1st decision (In re Zale Corporation), the Delaware Chancery Court dismissed claims that Zale Corporation’s directors breached their fiduciary duties in connection with Zale’s agreement to merge with Signet. ...more

Bilzin Sumberg

Homebuilder Series Webinar: Fiduciary Duties & Auditor Liability

Bilzin Sumberg on

Watch an in-depth Homebuilder Series webinar that discusses auditor liability and fiduciary duties. Two issues of recurring interest to company officers and directors are the potential liabilities of outside...more

K&L Gates LLP

Insurance for Professional Fiduciaries

K&L Gates LLP on

In an important decision for professionals operating in the trust and asset management sector - and their employers - the English Court of Appeal has recently provided guidance in the case of Rathbone Bros Plc and Paul...more

Haight Brown & Bonesteel LLP

Professional Liability and Attorney-Client Privilege Bulletin: Intra-Law Firm Communications

In a case of first impression in California, Edwards Wildman Palmer LLP v. Superior Court (No. B255182 - filed November 25, 2014), Division Three of the Second District Court of Appeal addressed the question of whether the...more

Bracewell LLP

Delaware Court Establishes "Taxonomy" For Controlling Stockholder Claims

Bracewell LLP on

In a recent decision, the Delaware Court of Chancery (Parsons, V.C.) dismissed a shareholder class action complaint alleging that a target company’s board of directors and private equity firm controlling stockholder breached...more

Mintz

Director Liability for Cybersecurity Risks

Mintz on

If a corporation is the target of a cyberattack resulting in a data breach, its board may be the target of a shareholder derivative action claiming breach of fiduciary duty. A recent example is Palkon v. Holmes, No....more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside The Courts - May 2014 | Volume 6 | Issue 2

In This Issue: - AUDITOR LIABILITY: ..Athale v. Sinotech Energy Ltd., No. 11 Civ. 05831(AJN) (S.D.N.Y. Feb. 21, 2014) - BYLAWS: ..ATP Tour, Inc. v. Deutscher Tennis Bund (German Tennis...more

Sheppard Mullin Richter & Hampton LLP

Delaware Court of Chancery Underscores Heightened Pleading Standard Necessary to Support a Claim for Breach of Fiduciary Duty In...

In Houseman v. Sagerman, C.A. No. 8898-VCG, 2014 WL 1478511 (Del. Ch. Apr. 16, 2014), the Delaware Court of Chancery (Glasscock, V.C.) granted, in part, a motion to dismiss filed by certain directors and the financial advisor...more

McDermott Will & Emery

Who’s in Charge – Is the Board Responsible to Monitor Its Financial Advisor or Vice Versa?

McDermott Will & Emery on

In the case of In re Rural Metro Corporation Stockholders Litigation, the Court of Chancery of the State of Delaware held that the primary financial advisor retained by Rural/Metro Corporation aided and abetted the board in...more

Burns & Levinson LLP

Intra-Company Disputes: Implications for the Attorney-Client Privilege and Fiduciary Duties

Burns & Levinson LLP on

In the course of its decision in Chambers v. Gold Medal Bakery, Inc., the Supreme Judicial Court of Massachusetts highlights a number of important rules related to the attorney-client privilege, as well as various rights and...more

Mintz - Securities & Capital Markets...

Proxy Season Litigation Primer: Defending Shareholder Suits to Enjoin Annual Meetings for Allegedly Inadequate Disclosures...

Over the past few years, as plaintiffs have found it increasingly harder to succeed in “say-on-pay” litigation, another type of litigation over proxy disclosures has been on the rise. These cases are generally brought as...more

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