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Fiduciary Duty
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Claims Against Benefit Plan Sponsors Grow More Sophisticated

Lawsuits against sponsors of retirement plans have been fairly common over the past decade. Typically, these claims involved relatively obvious violations, like excessive costs, negligent oversight and other types of blatant mismanagement. However, ERISA actions stemming from alleged fiduciary breaches and other misconduct have become increasingly complex. A claim filed against Community Health Systems highlights Read More

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Court Bars Business Oppression Even Though Shareholders Were in Litigation

Business oppression occurs when the shareholder majority exercises its voting power to abuse the ownership rights of the minority. A lawsuit alleging such abuse is a disruptive event that forever changes the relationship among shareholders. However, it does not end the parties’ fiduciary responsibilities to the company, or to others with a stake in the Read More

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Resetting the Statute of Limitations for Breach of Fiduciary Duty?

Generally speaking, a “fiduciary” relationship occurs where one person holds or manages assets for another’s benefit.  Typical fiduciaries include trustees, managers and corporate officers, all of whom owe “fiduciary duties” to act in the best interests of their principals. Under Illinois law, the beneficiary of a fiduciary duty has a limited time to sue a Read More

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