Archive for March, 2008
Mar
24
2008
Levy v. Reiner – Corporate breach of fiduciary duty
A minority shareholder filed suit against two officers of the company claiming that they had breached their fiduciary duty by paying themselves excessive salaries. The trial court granted summary judgment to the directors (a ruling that there are no issues of fact to be decided and so that party must prevail), and the shareholder appealed….
Mar
10
2008
Dudley v. Wachovia Bank – Medallion guarantee of signatures in stock transfers
A man executed his will in 1998, leaving his wife their home, his vehicles, and some cash. He left the remainder of his estate—including stock in AFLAC, Regions Financial, and Southern Company—to two adult children from his first marriage, who were also his executors. In June, 2003, the man, already suffering from dementia, had a…