Case Law Summaries

Arkansas – Fiduciary Duties

ArkansasMorrison v. MC Express LLC, Case No. 3:17-CV-00144, decided 1/9/18.  The US District Court, Eastern District of Arkansas held that a director and majority shareholder of a corporation did not owe fiduciary duties to the plaintiff – who had a contractual right to a percentage of stock that had not yet vested.  Fiduciary duties are only owed to present shareholders, not speculative or future shareholders.

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