Adam Doerr Weighs In On Fiduciary Duty Case in NC Lawyers WeeklyPDF
North Carolina Lawyers Weekly quoted Robinson Bradshaw attorney Adam K. Doerr in an article reviewing a recent North Carolina Business Court decision. The case in question dealt with which documents can be relied upon to prove company management identities, and therefore to prove fiduciary duties.
“It makes sense that third parties can rely on documents filed with the Secretary of State for the identity of an L.L.C.’s manager. Because operating agreements are rarely public, third parties wouldn’t have access to them,” Doerr said. “But this situation is different because the plaintiff in this derivative action is the company itself. You have to presume the company knows what its own operating agreement says.”
To read “Document dispute proves fatal for fiduciary duty, fraud claims,” please visit North Carolina Lawyers Weekly.