Corporate
Nov. 11, 2016
Rare case of a breach of the duties of care and loyalty
In a recent case, the District of Delaware denied a motion to dismiss claims of breach of the fiduciary duties of care and loyalty against officers of a Delaware corporation, which is a rare claim under Delaware law.
Marc Boiron
Associate
Rutan & Tucker LLP
Email: mboiron@rutan.com
Marc focuses his practice on transactional matters involving emerging and mid-market companies in the areas of California and Delaware corporate laws.
TRANSACTIONS WITH BOIRON
In Palmer v. Reali, the U.S. District Court for the District of Delaware denied a motion to dismiss claims of breach of the fiduciary duties of care and loyalty against officers of a Delaware corporation, which is a rare claim under Delaware law.
In 2010, Reali and Slattery were elected as president and chief financial officer, respectively, of TranS1, Inc. During that year, TranS1's revenue dropped 12....
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