Bearce v. Yellowstone Energy Development

Citations

• 963 N.W.2d 299
• 2021 ND 143

Syllabus

Where you have a closely held company, the law imposes a fiduciary duty upon the governors and majority shareholders to act in good faith, and affords remedies to minority shareholders if those in control act fraudulently, illegally, or in a manner unfairly prejudicial toward any shareholder. The date a person acquires interest in a company is a question of fact reviewed under the clearly erroneous standard.