Midland Grange – Compliance Building

Imposing Caremark Fiduciary Duty on Corporate Officers

Doug Cornelius November 14, 2008 Corporate Governance [+]

I previously posted on the Midland Grange case [Delaware Imposing Same Fiduciary Duty on Officers as Directors] where the Delaware Chancery Court imposed the same obligations on officers as directors, including the duty of loyalty and the duty of care. In Miller v. McDonald, et al., ( D. Del., Bankr., April 9, 2008), the Bankruptcy Court … Read more »

Delaware Imposing Same Fiduciary Duty on Officers as Directors

Doug Cornelius November 14, 2008 Corporate Governance 1

In Stone v. Ritter, we saw the Delaware courts imposing a duty on corporate directors to attempt to assure that a corporate information and reporting system exists, and that failure to do so may, under some circumstances, render a director liable for losses caused by the illegal conduct of employees. See The Implications of Stone … Read more »