Tom Molony authors business law article for NCBA publication

Thomas Molony, associate professor of law, Elon University School of Law[/caption]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.

The 2014 issue of Notes Bearing Interest, featuring Molony’s “Business Law Developments” article, is available here.

More information about Elon Law Professor Tom Molony is available here.