| Autor: |
William Regner, Gregory Gooding, Gary Kubek, Maeve O'Connor |
| Rok vydání: |
2014 |
| Předmět: |
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| Zdroj: |
Journal of Investment Compliance. 15:39-42 |
| ISSN: |
1528-5812 |
| DOI: |
10.1108/joic-05-2014-0021 |
| Popis: |
Purpose – To explain the implications of a March 2014 Delaware Court of Chancery decision that found RBC Capital Markets liable for damages for aiding and abetting breaches of fiduciary duty by the directors of Rural/Metro Corporation in connection with the company’s 2011 sale to an affiliate of Warburg PIncus. Design/methodology/approach – Explains the court’s findings and decision, offers procedural lessons for sell-side financial advisors, and recommends what sell-side advisors can do to limit exposure to aiding and abetting claims. Findings – The Rural/Metro decision opens the door to additional litigation risk for sell-side advisors. However, Vice Chancellor Laster’s opinion also provides a roadmap for how an advisor can limit that risk. Practical implications – Director and financial advisor liability most often results from process failures. Originality/value – Practical guidance from experienced mergers and acquisitions and securities and corporate governance lawyers. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
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