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Massachusetts Business Entity Law Clarified

July 12, 2018 Corporate, Litigation Research

In March 6, 2017 the Massachusetts (MA) Supreme Judicial court held that a MA director’s duty is owed solely to the corporation. However, the duties may be owed among shareholders in small corporations and when “a controlling shareholder who also is a director proposes and implements a self-interested transaction that is to the detriment of minority shareholders.” The decision, which is a result of IBEW Local No. 129 v. Tucci, is…READ MORE