References in periodicals archive ?
La Forest at the Supreme Court of Canada, 1985-1997 (Winnipeg: Canadian Legal History Project for the Supreme Court of Canada Historical Society, 2000) 81 at 83-87; Sarah Worthington, "Fiduciary Duties and Proprietary Remedies: Addressing the Failure of Equitable Formulae" (2013) 72:3 Cambridge LJ 720 at 720.
To demonstrate the importance of fiduciary duties in personal finance, Rostad cited a 2008 RAND Corporation paper titled "Investor and Industry Perspectives on Investment Advisors and Broker-Dealers," which found that nearly two out of three (63%) focus-group participants "believed that brokers are required by law to act in the client's best interest." What's more, after having the differences explained to them, "investors are often unable to tell whether their own financial professional is a broker or an advisor."
When that happens, creditors often look for other ways to recover what they are owed and lawsuits for breaches of fiduciary duties is one avenue they may pursue.
that officers have the same fiduciary duties as directors.
Moreover, to the extent fiduciary relationships are contractual, and fiduciary duties are default terms, they provide poor guides to public law.
Lufkin formed the committee after certain shareholders accused the board of having violated its fiduciary duties in approving the deal with GE and called on the board to take steps to remedy its conduct.
practice implicates fiduciary duties at the precertification stage.
Dial, the Seventh Circuit ruled that trading ahead is a fraud under the mail and wire fraud statutes (86) because it is a failure "to 'level' with one to whom one owes fiduciary duties." (87) In that case, broker Donald Dial, the defendant, solicited a large order for silver futures from his customers, but before he put that order on the market he put in an order for himself (and his brokerage house).
Villanueva said that all corporations, acting through their BOD, 'should be devoted toward a single objective of maximizing the profits of the corporation for the benefit of its stockholders.' Villanueva added that the Corporation Code, which grants directors with legal title to the corporate assets for the benefit of stockholders, serves as 'the legal bedrock for the prevalence of the Doctrine of Maximization of Shareholders' Value in Corporate Governance.' Profit maximization appears to be the ultimate measure whether the BOD fulfilled its fiduciary duties with the underlying dictates of corporate governance.
To repeat, Australian orthodoxy is that fiduciary duties are only proscriptive, and never prescriptive.
In a 66-page opinion, the Court held that Brookfield, which owned 33.5% of Rouses stock before the merger, was not a controlling stockholder and, thus, did not owe fiduciary duties to Rouses stockholders.
These instructions have been prepared to cover many of the circumstances under which fiduciary duties have been held to arise.