Delaware Courts Confirm High Standard for Breach of Oversight Duty Applies Equally to Officers and Directors | Bennett Jones LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
In the United States, corporate directors and, as confirmed by the Delaware Court in McDonald s Corp. Stockholder Derivative Litigation McDonald1, corporate officers owe, as a subset of their duty of loyalty, a duty to monitor and oversee the operations of a company. This duty of oversight is often referred to as the “Caremark” duty, named after the 1996 case establishing its parameters.2 A party seeking to bring a Caremark claim against a director and/or officer “must allege sufficient facts to support a reasonable inference that the fiduciary acted in bad faith.”3
Delaware Rulings on Officer Duties natlawreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from natlawreview.com Daily Mail and Mail on Sunday newspapers.