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CALIFORNIA CORPORATE & SECURITIES LAW

Nevada’s Business Judgment Rule: FDIC – 4; Management – 0

In recent weeks, the U.S. District Court has issued four separate rulings in cases brought by the Federal Deposit Insurance Corporation (FDIC) against former bank managers for breach of fiduciary duty.  Here is a brief recap of these decisions: In FDIC v. Delaney, 2014 U.S. Dist. LEXIS 90147 (July 2, 2014), the FDIC asserted claims against two former directors…

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“Don’t tell me not to worry, and please don’t call me partner.”

How many websites and marketing materials have you seen that identify a company’s suppliers and other vendors as “partners”?  Does this mean that the company actually intends to communicate that it has formed a legal partnership with the named suppliers and vendors?  In most cases, probably not.  So, why would a company describe its vendors…

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Appellate Court Finds Triable Issues of Fact in Alter Ego Claim

The Sixth District Court of Appeal recently addressed what it takes for someone to beat an alter ego claim on a motion for summary judgment.  In Zoran Corp. v. Chen, the plaintiff sued several companies and an individual for amounts owed to the plaintiff for equipment that it had sold.  A central theory of the complaint…

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