Fiduciary

Transnational Corporate Law Litigation: Holding American Corporations Accountable for Foreign Violations Through Fiduciary Duty Claims

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Wilmington, Delaware – Corporate law experts in the United States widely recognize the significance of Delaware’s legal compliance jurisprudence. While directors and officers have considerable leeway in making business decisions, they are not immune to being held accountable for corporate law violations. Directors and officers betray shareholders when they knowingly allow the corporation to break the law. A forthcoming paper titled “Transnational Corporate Law Litigation” in the Duke Law Journal explores how Delaware’s legal compliance jurisprudence can be utilized to deter corporate lawbreaking in foreign countries. The paper presents a blueprint that explains why violations … Read more

Parents of Crypto Exchange Founder Seek Dismissal of Fraudulent Fund Transfer Lawsuit, Citing Lack of Fiduciary Relationship

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San Francisco, California – Joseph Bankman and Barbara Fried, parents of Sam Bankman-Fried, are seeking the dismissal of a lawsuit filed by bankrupt cryptocurrency exchange FTX. The exchange alleges that funds were fraudulently transferred and seeks to recover millions of dollars from Bankman and Fried. Bankman-Fried, less than two months after the lawsuit was filed, was found guilty on all seven charges of defrauding customers and the United States. His sentencing is expected to take place in March. Bankman and Fried, both professors at Stanford Law School, argue that Bankman had no fiduciary relationship with … Read more