Tech Co. Director 'Disloyal' For Tipping Investor, Judge Says

Law360, Wilmington (October 1, 2012, 10:25 PM EDT) -- A Delaware judge found Monday that a dissident director of Shocking Technologies Inc. breached his fiduciary duty by revealing confidential information to an investor, but awarded no damages or attorneys' fees, ruling no financial harm had been done.

Filed in Delaware Chancery Court by San Jose-based STI, the suit claimed director Simon J. Michael breached his financial duty of loyalty to the company when he attempted to dissuade an investor from exercising some $3 million in stock warrants in December 2011, even though the company badly...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.