Harriman v. EI DuPont De Nemours and Company

How courts have described this case

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

• \[i]t is only when a person affirmatively undertakes to dictate the destiny of the corporation that he assumes such a fiduciary duty\
• \It is only when a person affirmatively undertakes to dictate the destiny of the corporation that he assumes such a fiduciary duty.\
• “since one may be a controlling person without having in fact exercised control, a plaintiff can state a cause of action under Sections 10b-5 and 20(a) of the Act without alleging any affirmative action on the part of the defendant.”
• “Under section 20(a) the participation of a controlling person in the transaction of which plaintiffs complain is not relevant to liability except insofar as the defendant may demonstrate, by way of defense, that he did not, ‘directly or indirectly induce’ that transaction.”
• “a plaintiff can state a cause of action under Sections 10b-5 and 20(a) of the [1934] Act without alleging any affirmative action on the part of the defendant .... ‘[Status’ may suffice if that status is such that it involves the potential for control”
• “Under Section 20(a) the participation of a controlling person in the transaction of which plaintiffs complain is not relevant to liability except insofar as the defendant may demonstrate, by way of defense, that he did not ‘directly or indirectly induce’ that transaction.”

Source: CourtListener parenthetical corpus (CC0).