Plumbing Supplier Must Advance Exec's Legal Fees, Court Says

Law360, Los Angeles (July 5, 2012, 5:26 PM EDT) -- The Ohio Supreme Court held Tuesday that Trumbull Industries Inc. can't use claims that a company director sued by his fellow shareholders breached his fiduciary duties in order to dodge its statutory duty to advance him legal expenses.

The state high court found Tuesday that Trumbull violated a state corporations law when it refused to advance the legal expenses of company vice president Samuel M. Miller after it sued him for pursuing a business deal over its objections, concluded that advancing legal fees is different from...
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