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Corporate & Securities Law

: Jim Hamilton's World of Securities Regulation

By James Hamilton

Corporate Officers Also Have Fiduciary Duties under CaremarkA federal bankruptcy court has ruled that corporate officers, as well as directors, have fiduciary duties to the company under Delaware?s Caremark line of cases. While Delaware law does not impose fiduciary duty on employees generally, noted the court, it does impose failure of oversight fiduciary duty as to officers. In this action, the individual in question was not just an employee, but wore the twin hats of vice president of operati read more

Full post as published by Jim Hamilton's World of Securities Regulation on April 15, 2008 (boomark / email).