Tom Molony authors business law article for NCBA publication
Elon Law Professor Tom Molony highlights significant Delaware and North Carolina court cases in a 2014 “Business Law Developments” article for members of the Business Law Section of the North Carolina Bar Association (NCBA).
Molony’s article, which appeared in Notes Bearing Interest, a publication of the Business Law Section of the NCBA, discusses recent court decisions examining:
- whether a 50% shareholder of a North Carolina corporation has standing to bring a direct claim against another 50% shareholder for breach of fiduciary duty;
- whether an individual shareholder of a North Carolina corporation has standing to bring a direct claim against directors for breaching their duty of candor;
- whether a member of a North Carolina limited liability company may bring a breach of fiduciary duty claim against the company’s manager with respect to the receipt of a personal benefit when the company’s operating agreement grants broad authority to the manager and specifically permits competition with the company.