Tag Archives: Shareholder Litigation

Do Fiduciary Duties Apply Between Equal, 50/50 Shareholders?

Fiduciary duties are often described as the highest duties recognized under the law.  Their application, however, is often challenged by litigants in court.  In a recent case before Iowa’s Business Court, the Honorable Judge John Telleen was tasked with determining whether equal, 50/50 … Continue reading

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PART II – 2013 Law Eliminates Statutory Authority to Recover Attorneys’ Fees in Derivative Litigation

PART II – 2013 Changes to the Iowa Business Corporation Act. This post addresses yet another substantive change to Iowa law – as adopted by the 2013 legislature – and which relates to the ability to recover reasonable attorneys fees … Continue reading

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10 Characteristics of Shareholder Oppression in an Iowa Business – The Iowa Court of Appeals Explains

       In Heidecker Farms, Inc. v. Heidecker, the Iowa Court of Appeals identified several different actions / inactions that may arise to shareholder oppression in Iowa.  The court began by explaining shareholder oppression generally, stating: “Oppressive conduct ‘is an … Continue reading

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Slow Down and Think Twice About Filing a Derivative Claim Before Trying to Inspect Books and Records

The latest case in a string of Delaware Court opinions raises – again – an interesting question regarding a derivative plaintiff’s ability to inspect a corporation’s books and records after he/she files a derivative complaint. In a November 30, 2011 opinion – Central Laborers … Continue reading

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Inspect First or Forever Remain Curious. . .

A possible new pre-requisite to filing a derivative complaint – conducting a books and records inspection If you are considering filing a derivative claim (an action on behalf of the business that is usually against management) consider conducting a records … Continue reading

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