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Contract BreachDamagesCausation9th Circuit
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Smith v. TechCorp Industries
Good Law2024 WL 123456·9th Circuit·Nov 15, 2024
Holding
The court held that under Delaware law, a party claiming breach of fiduciary duty must demonstrate that the fiduciary engaged in self-dealing or acted in bad faith. Mere negligence in business judgment is insufficient to establish liability.
Key Passages
“The business judgment rule creates a presumption that directors acted on an informed basis, in good faith, and in the honest belief that the action taken was in the best interests of the company.”
Page 12
“To rebut this presumption, the plaintiff must demonstrate that the board's decision was so egregious that it could not have been the product of sound business judgment.”
Page 15
47
Cited By
23
Citations
95%
Relevance Score