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Fiduciary Duty Willful Misconduct

Wiley Rein LLP

Ninth Circuit Affirms Ruling That Section 533 Bars Coverage for Defense Costs and Indemnity When Claims Broadly Allege Willful...

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The United States Court of Appeals for the Ninth Circuit, applying California law, has affirmed a district court’s determination that California Insurance Code § 533 barred indemnity and defense costs coverage for a lawsuit...more

Freiberger Haber LLP

Thorny Issues Concerning the Statute of Limitations for Declaratory Relief and Breach of Fiduciary Duty

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Statutes of limitations limit the time within which a defendant can be held liable for any type of alleged wrongdoing. Plaintiffs who do not pursue their rights within the limitations period will find the courthouse doors...more

Winstead PC

Court Affirms Summary Judgment For An Executrix’s Estate Based On Limitations

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In In re Estate of Maun, a brother sued his sister’s estate for her performance as executrix of their mother’s estate since the late 1980s. No. 13-22-00576-CV, 2024 Tex. App. LEXIS 52 (Tex. App.—Corpus Christi January 4,...more

Lowenstein Sandler LLP

The SEC’s Private Fund Adviser Rules Explained — Part 1: The Restricted Activities Rule

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On August 23, 2023, the U.S. Securities and Exchange Commission (SEC) adopted new and amended rules under the Investment Advisers Act of 1940, as amended (the Advisers Act), to address what it perceives as certain conflicts...more

Latham & Watkins LLP

Delaware Court Confirms Corporate Officers’ Duty of Oversight - Lessons for UK Companies

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The US decision reminds UK companies and their officers to identify and report red flags about misconduct in the workplace. Certain shareholders of McDonald’s Corporation (the Company) sued David Fairhurst, the Company’s...more

Lowenstein Sandler LLP

In The Know: The Lowenstein Insurance Recovery Group’s Tip Of The Month - April 2021

There is a common misconception that claims for intentional conduct are not covered under your insurance policy. In fact, insurance policies commonly provide coverage for intentional misconduct. For example, directors and...more

Carlton Fields

Eleventh Circuit Affirms Summary Judgment for Insurer Based on "Other Capacity" Exclusion

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On June 22, the Eleventh Circuit affirmed the grant of summary judgment in favor of National Union Insurance Company of Pittsburgh, Pa., in an action where the insured sought $10 million in coverage under a D&O policy. The...more

Bracewell LLP

Delaware Supreme Court Rules That Privileged Documents Must Be Produced To Shareholders Investigating Corporate Misconduct

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The Delaware Supreme Court recently held that, in certain circumstances, shareholders may be able to obtain access to privileged, internal documents in order to investigate potential breaches of fiduciary duty. In Wal-Mart...more

Perkins Coie

Investigating Alleged Board Member Misconduct

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Let us start our discussion with an area of broad consensus: A company’s board of directors has a duty of care to respond to and investigate allegations of wrongdoing by officers and employees of the company. But what happens...more

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