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Tom Molony authors business law article for NCBA publication

By Philip Craft, staff

July 2, 2014

Elon Law Professor Tom Molony highlights significant Delaware and North Carolina court cases in a 2014 “Business Law Developments” article for members of the Business Law Section of the North Carolina Bar Association (NCBA).

Thomas Molony, associate professor of law, ¸£ÀûÑÇÖÞ¹ú²ú¾«Æ· School of Law
Thomas Molony, associate professor of law, ¸£ÀûÑÇÖÞ¹ú²ú¾«Æ· School of Law[/caption]Molony’s article, which appeared in Notes Bearing Interest, a publication of the Business Law Section of the NCBA, discusses recent court decisions examining:

  • whether a 50% shareholder of a North Carolina corporation has standing to bring a direct claim against another 50% shareholder for breach of fiduciary duty;
  • whether an individual shareholder of a North Carolina corporation has standing to bring a direct claim against directors for breaching their duty of candor;
  • whether a member of a North Carolina limited liability company may bring a breach of fiduciary duty claim against the company’s manager with respect to the receipt of a personal benefit when the company’s operating agreement grants broad authority to the manager and specifically permits competition with the company.

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