LexisNexis® Legal Newsroom
Do Bankers Ever Have Fiduciary Duties To Their Customers?

If a bartender serves a visibly intoxicated customer with even more alcohol and the customer then causes an accident while driving drunk, the bartender can be liable under North Carolina's Dram Shop Act, N.C. Gen. Stat §18B-120, et seq. But if a banker showers cash on a borrower to fund ...

First Circuit: Private Equity Fund Liable for Bankrupt Portfolio Company's Pension Obligations

On July 24, 2013, in a case the court said was one of “first impression,” the First Circuit held that, due to the nature of its involvement in the management of its portfolio company’s operations, a private equity firm was potentially liable for the portfolio company’s pension...