Hagshenas v. Gaylord

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that 50-50 shareholders in a close corporation owed fiduciary duties
• a partner may not enhance his “personal interests at the expense of the interests of the enterprise”
• 50% shareholder who resigned as officer and director still owed fiduciary duty because he retained his voting rights, which gave him 50% control over the corporation
• owner of 50% of the stock in a close corporation owes this duty, just as a partner in a partnership would
• “Bruce, as a 50% shareholder in this closely held corporation, owed a fiduciary duty similar to a partner to Imperial and its shareholders”
• shareholders in a closely held corporation owe a fiduciary duty to each other

Source: CourtListener parenthetical corpus (CC0).