Legal Question in International Law in Illinois

violation of fiduciary duties in a partnership?

If a female partner in a corporation was receiving hostile treatment from a male partner--name removed--who also discriminates other female employees--name removed--which ultimately effects the work quality of the female partner--name removed-- would this qualify as a violation of fiduciary duties in a partnership--name removed-- If so--name removed--on what grounds would she be able to initiate a course of action in order to remedy the situation--name removed-- Does it make a difference whether the corporation is a multinational or not--name removed--


Asked on 6/29/00, 1:54 pm

1 Answer from Attorneys
Lawrence Graves Coolidge & Graves PLLC

Re: violation of fiduciary duties in a partnership?

With respect, your question is quite the wrong one. There is no such thing as a "partner" in a corporation -- I expect that you mean that you and the other guy are both 50% stockholders, or some such. Only in Massachusetts have the courts extended doctrines of fiduciary duties from partnership law into the context of closely-held corporations. In all other states, stockholders owe one another only a duty of good faith and fair dealing. However, there are a number of other legal theories that are actually applicable to misconduct by a controlling or major stockholder. Consult an attorney in your state. The multi-national issue is probably not significant.

Best wishes,

LDWG

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Answered on 9/06/00, 8:15 am


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