Attorney Fiduciary Duty of Loyalty Informed ConsentJohnson, et al v. Nextel Communications Inc., et al.09-1892-cvJudges Winter, Hall and Cedarbaum Background: The plaintiff-appellants appealed from the dismissal of its complaint alleging that the law firm of Leeds, Morelli & Brown violated its fiduciary obligations by entering into an agreement with Nextel, the defendant in discrimination actions the law firm was hired to bring, which involved unconsentable conflicts of interest. Specifically, the plaintiffs' alleged that the law firm entered into an agreement wherein Nextel would pay the law firm to persuade the class members to abandon their claims and provide the law firm with a consulting contract two years after the lawsuit was abandoned.Ruling: The Second Circuit held that the com...
summary judgment; fraud; negligent misrepresentation; breach of fiduciary duty; legal malpractice; civil conspiracy; civil aiding and abetting; requests for admissions; Civ.R. 36
The first part of Surging Deepening Insolvency Claims: Increased Risks for Managers, Advisors, and Lenders of Troubled Companies summarizes the state of the law and practice with respect to the "deepening insolvency" theory and sets forth some important considerations for practitioners. In many ways, the deepening insolvency theory appears to be simply a natural evolution of the existing duty of care and "zone of insolvency" case law. Several cases have defined "deepening insolvency" as the "fraudulent prolongation of a corporation's life beyond insolvency, resulting in damage to the corporation caused by increased debt." It is not clear whether and, if so, how the "deepening insolvency" theory is different from the law applicable to claims of breach of fiduciary duty actions against of...
... actions against officers and directors or aiding and abetting such a breach against other related p...
The following article was originally published in Minnesota Lawyer, another Dolan Media publication. MINNEAPOLIS - Most employers in competitive industries will protect themselves against the loss of valuable employees by asking them to sign covenants not to compete. The employees, in turn, may want to market their knowledge and experience to competitors. The task for the attorney for an employer who has hired away the competition is to keep it out of trouble with the old employer, which may bring claims for tortious interference with contract or aiding and abetting a breach of fiduciary duty.
Most employers in competitive industries will protect themselves against the loss of valuable employees by asking them to sign covenants not to compete. The employees, in turn, may want to market their knowledge and experience to competitors. The task for the attorney for an employer who has hired away the competition is to keep it out of trouble with the old employer, which may bring claims for tortious interference with contract or aiding and abetting a breach of fiduciary duty. Those types of claims were included in the discussion of Trading Talent without Trading Secrets, a seminar presented by the competitive practices group at the Minneapolis law firm of Maslon, Edelman, Borman & Brand on May 3.
It's OK to Steal A technology staffing company accused of luring a systems administrator away from another employer could not be sued for aiding and abetting his breach of fiduciary duty, a U.S. District Court judge has ruled.
A trustee of an insolvent company has standing to file a suit against a third-party attorney and his law firm alleging malpractice and breach of fiduciary duty, the 8th Circuit has ruled. The plaintiff was a trustee of the bankruptcy estate of a limited liability company that managed senior citizen housing projects. He filed suit in bankruptcy court against an attorney for the estate and the attorney's law firm, alleging malpractice and aiding and abetting a breach of fiduciary duty by the governor, manager and majority interest owner of the corporation.
... Company Act of 1940 (the "1940 Act"), breach of fiduciary duty, breach of contract based on rep... of fiduciary duty against the Adviser; (c) aiding and abetting a breach of fiduciary duty against th...
... Chemical Company sued Westlake Styrene for breach of contract, arguing that Westlake failed to sell ... affirmative defenses, including the aiding and abetting of a breach of fiduciary duty and fra...
...") as well as claims under New York law for aiding and abetting a breach of fiduciary duty, commercia...
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