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.
Last year, Vice Chancellor J. Travis Laster's ruled that McDonald's Corporation's former Executive Vice President and Global Chief People Officer, David Fairhurst, owed a duty of.