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Questions tagged [fiduciary-duties]

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To whom does the owner of 100% of the shares of a company owe a fiduciary duty to?

According to this youtube video by Patrick Boyle Patrick Boyle there is a lawsuit going on about a simpsons like bankruptcy. The allegation, as I understand it, is that Thai Foods, the 100% owner of ...
User65535's user avatar
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-3 votes
1 answer

Do directors at defense contractors have a fiduciary duty to promote instability and conflict?

In the TV series Fallout, a character mentions that executives of Vault-Tec, a company specializing in bunkers capable of surviving a nuclear blast, have fiduciary duties. Without giving away too much,...
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Is company under receivership in Washington State obligated to pay for use of occupied property before deciding to assume or reject lease?

Under Washington State law, it appears that companies under receivership have no hard and fast timeframe under which they are required to decide if they wish to assume or reject a lease executed ...
Seth Revelle's user avatar
11 votes
2 answers

Do Trump's lawyers have a fiduciary duty to delay the proceedings?

Trump is currently facing a variety of legal charges. If he is elected to the presidency and takes office, he could order the federal cases against him to be dropped. So it is against Trump's interest ...
adam.baker's user avatar
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5 votes
2 answers

Do lawyers have to hold disputed funds in trust account pending litigation?

Alice sued Bob and won. Bob filed an appeal and a motion/application for a stay of the payment he now owed to Alice pending the appeal. The stay was declined. Alice's lawyer demanded payment into his ...
Greendrake's user avatar
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1 answer

Fictional fiduciary makes loan against stock

This question is about events in the SF novel Owner's Share by Nathan Lowell. The novel is set in the year 2373. Obviously there is no way to be sure what the law will be at that date, so I am asking ...
David Siegel's user avatar
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3 answers

Can a social security card be used/required as identification?

A FINRA-regulated institution is restricting my account on suspicion of identity theft and requiring that I give them a copy of my social security card which I of course don't have because what use ...
JosephCorrectEnglishPronouns's user avatar
4 votes
2 answers

Can you have a fiduciary duty to your own business?

If I am the sole member and manager of an LLC, do I have any fiduciary duty to the LLC? Would there be anything legally wrong with my intentionally wasting the company's money or doing something ...
Someone's user avatar
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Does a NY divorce court have jurisdiction to rule on an action that involves the use of Supplemental Security Income funds?

An over 21 mentally challenged person who was certified to receive Supplemental Security Income (SSI) at the age of 18 elects a "Payee" who happens to be a parent. For several years the ...
nroneson's user avatar
4 votes
1 answer

Can the board of a NH non-profit deny a stockholder a hearing before terminating their membership?

Our board would like to eject a troublesome individual from our club. The individual has requested a formal hearing but, frankly, we're not really inclined to waste our time that way. However, club ...
Goobs says make Monica whole's user avatar
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1 answer

Can fiduciary standards of care, prudence and loyalty be imposed on the POTUS?

My question is broad here, not just current law, but is it even permissible under the constitution? Could congress pass a law setting a fiduciary standard of care in some fiscal matters, and enforce ...
Burt_Harris's user avatar
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2 votes
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The court does, but does your attorney have any duty to assume you are truthful for the sake of a problem spotting?

When a complaint is first filed, per case law, courts have a duty to assume each allegation you make on information and belief as long as they are each not contradicting any other statement or other ...
kisspuska's user avatar
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1 vote
1 answer

Does a fiduciary have the same or different standard of care toward a "remainderman" as an income beneficiary?

One of my friends is the "remainder(wo)man" of a trust that was worth $1.5 million at the end of 2008 (the last bear market year), and invested in a 60-40 mix of stocks and bonds. Since then,...
Libra's user avatar
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1 vote
1 answer

Laws About Contributions from Business You Own to 501c(3) You Founded/Work At

I have a US LLC I own, and am interested in beginning a charitable non-profit organization, to operate as a 501 3 (c) that would operate in a tangentially related area. When there is similar overlap ...
Skyler's user avatar
  • 163
2 votes
2 answers

Can a plaintiff in a fiduciary breach of trust sue a particular director instead of the company?

I heard this story from Peter (not actual name): Peter co-founded a company with John. John earns 80% of shares while Peter owns 20% of shares. John being greedy empties all company coffers ...
user1034912's user avatar
  • 1,511
0 votes
4 answers

How can I protect myself as a minority shareholder when I don't have the money to pay legal fees?

I'm about to sell shares to an angel who is going to become the majority shareholder of my company. The money will go into the company as new shares. I can only pocket it through salary agreements. ...
user1034912's user avatar
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-1 votes
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How did facebook got away from fiduciary lawsuit when they diluted Saverin's shares?

Saverin eventually settled out of the court, for 5% equity. But why didn't he proceed for his original 30% equity when it was clear that facebooks majority shareholders failed to exercise the ...
user1034912's user avatar
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3 votes
2 answers

Do Directors serving at the pleasure of a specific class of investor owe fiduciary duties to other classes of investors?

Suppose a company has five directors. Two appointed by holders of common stock and three appointed by holders of preferred stock. Do the directors appointed by the preferred stockholders have a ...
Paul's user avatar
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2 votes
1 answer

Is this fraud by abuse of position?

An acquaintance of mine is the leaseholder of a flat. The management company for the block has appointed Ms P to be the person specifically responsible for this block. Ms P has awarded a significant ...
Paul Johnson's user avatar
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2 votes
2 answers

Therapist violates confidentiality. Any laws applicable?

A friend is doing counseling as a domestic violence victim at a domestic violence aid agency. The therapist recently disclosed her information, including what they have talked about in counseling ...
Eddie Kal's user avatar
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