Whether a duty is owed can be determined by the Operating Agreement, the corporate responsibilities of the shareholder or employee, or the Business Corporations Act or the Limited Liability Company Act. Furthermore, the exercise of the business judgment rule to officer and shareholder conduct needs to be considered and applied to any claims of breach of fiduciary duty. These variables need to be applied to the conduct that is alleged to be a breach of the fiduciary duty.
At IND LAW we have seen and understand how these varying factors work together and use these factors to ensure a successful prosecution or defense of claims alleging breach of fiduciary duty.
In 2018 IND LAW obtained a favorable settlement after 6 days of trial testimony for a majority shareholder who was accused of breaches of fiduciary duty and shareholder oppression. The case involved complex evidentiary issues unique to shareholder disputes.