Delaware Supreme Court Addresses Appropriate Remedy for Breach of Fiduciary Duty

Lingo v. Lingo, No. 713, 2009 (Del. Supr., June 10, 2010), read opinion here. The factual background of this Delaware Supreme Court decision involves a faithless fiduciary who abused the Power of Attorney given to her, but the part of the opinion that will be of interest for readers of this blog...

This Week in Securities Litigation (June 25, 2010)

The Supreme Court handed down two significant rulings as the week came to a close. In one, it rejected constitutional challenges to the honest services fraud statute which is frequently used in white collar prosecutions. In a second, the High Court rejected the Second Circuit's so-called "foreign...

Delaware Court of Chancery Awards Post-Trial Damages in Breach of Fiduciary Duty Case

The Court of Chancery in GyneConcepts, Inc. v. Kim, et al ., C. A. No. 4820-CC (Del. Ch. August 18, 2010), read decision here, issued a short four-page post-trial decision awarding plaintiff GyneConcepts money damages in the amount of $1,181,708, plus pre-judgment interest at the legal rate for,...

Adviser, Co-Founder, Settle SEC Breach of Duty Proceeding

The Commission filed settled administrative proceedings against an investment adviser and its co-founder based on a claimed breach of fiduciary duty. The Order alleged violations based on negligence, citing Securities Act Section 17(a)(2) and Advisers Act Section 206(2) and, in addition, Advisers Act...