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...
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
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
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...