In a striking decision earlier this year, the 3rd Circuit Court of Appeals affirmed a jury’s findings of liability for breach of fiduciary duties and ‘deepening insolvency,’ and the…
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My comments: inadequate director oversight and lack of action in response to red flags can result in director liability for insolvency, even for directors of nonprofits. All directors should know this.
Dave Tate, Esq. (San Francisco and California)