Is a director of a publicly listed company liable for a serious breach of fiduciary duties?
British Columbia, Canada
The following excerpt is from Roussy v Savage, 2019 BCSC 1669 (CanLII):
Norell J. considered allegations similar to those of the plaintiffs in Zhou v. Li, 2019 BCSC 188. In that case, a shareholder had also accused the defendant director of a serious breach of fiduciary duties. The plaintiff argued that since the company was a closely-held company with only three shareholders, and because he had allowed the defendant to run the company on his own, an independent fiduciary relationship had arisen between them.
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