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 [...]
Tag Archives: Caremark
The Implications of Stone v. Ritter
In 1996, Delaware’s Court of Chancery stated in the Caremark case that a director’s duty of good faith includes a duty 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 [...]
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