1. Upstream Liability, Entities as Boards, and the Theory of the Firm

    Upstream Liability, Entities as Boards, and the Theory of the Firm

    Directors have fiduciary duties, and the most litigated and most demanding of those duties is the duty of loyalty. The key questions for duty of loyalty litigation are director-by-director questions: Did this particular director have a conflict? Is it futile to make a demand on that particular director?...

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