January 2016
Business Judgment Rule
The Court emphasized that the business judgment rule only applies where a corporation acts within its authority.
Fisher v. Shipyard Village, Op. No. 27603 (S.C. Sup. Ct. filed Jan. 27, 2016) (Shearouse Adv. Sh. No. 4 at 21).
May 2013
Fiduciary duty
Under Delaware law, a breach of fiduciary duty is not considered a mere tort, but its own distinct cause of action.
Menezes v. W.L. Ross & Company, Op. No. 27254 (S.C. Sup. Ct. filed May 22, 2013) (Shearouse Adv. Sh. No. 23 at 66).
Statute of limitations
Under Delaware law, a shareholder’s claim for breach of fiduciary duty accrues at the time corporate directors or officers breach their fiduciary duties.
Menezes v. W.L. Ross & Company, Op. No. 27254 (S.C. Sup. Ct. filed May 22, 2013) (Shearouse Adv. Sh. No. 23 at 66).