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Corporate Officers Also Owe Fiduciary Duty of Oversight

Delaware Court of Chancery issued important decision for corporations and their officers, finding corporate officers owe a fiduciary duty of oversight. However Court held duty of oversight generally applies only as to matters within the officer’s areas of responsibility. ....

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Corporate Officers of Delaware Corporations Have Fiduciary Duty of Oversight

Until Delaware Court of Chancery issued In re McDonald’s Corp. Stockholder Derivative Litigation decision it was unclear if claims for breach of fiduciary duty premised on lack of oversight also applied to corporate officers of Delaware corporations. ....

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District Court Dismisses ERISA Class Action Against Goldman Sachs

New York district court summarily dismissed 401k plan participant putative class action complaint alleging breaches of fiduciary duty related to lack of IPS and conflict of interest. Falberg v. Goldman Sachs. ....

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