The fiduciary duties that are owed is
often going to come down to a question
of control. Especially in a closely held
corporation, uh it’s a heightened
obligation of fiduciary duties, duty of
loyalty, duty of cander, duty to act in
good faith. But it often times comes
down to who can control the business. Is
it a majority shareholder? Then they’re
often times going to be found to have a
fiduciary obligation. officers and
directors are going to have a fiduciary
obligation to act in the best interest
of the corporation. And if it’s a
minority shareholder, if he or she does
not have the ability to control
decision-m, you know, they don’t have
the the the shares or the interest to be
able to block actions or to impede
action. Often times they might be held
to not have a fiduciary obligation. So
really the question is going to come
down to one of control. How much control
does the shareholder have over the
corporation and how much can they push
uh issues or or decisions?