The Maryland Supreme Court will consider whether the state recognizes pay raises to shareholding executives at privately held companies as “de facto dividends.”

Tagged with: de facto dividend dividends Eastland Food family business fiduciary duty Maryland Supreme Court Montgomery County shareholder unjust enrichment

Maryland’s second-highest court has revived the shareholder lawsuit of a man who claims his mother and brother illicitly enriched themselves while not paying him a “de facto dividend.”

Tagged with: de facto dividend dividend Eastland Food family business fiduciary duty shareholder unjust enrichment

The trustees of the Maryland Bar’s Client Protection Fund validly rejected a man’s request to be reimbursed for the $2.6 million a since-convicted and disbarred attorney bilked from the escrow account the lawyer had managed for him, the state’s second ...

Tagged with: attorney discipline Client Protection Fund embezzlement fiduciary duty

Maryland’s top court ended its 2019-2020 session last week having issued landmark rulings permitting the admission of evidence based on emerging sciences, creating a cause of action for breach of fiduciary duty and ruling that police may not arrest and ...

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With the Department of Labor slated to enact a rule next year requiring people who manage retirement funds to act as fiduciaries, financial services companies are looking at what this means for their offerings. While the rule change may make ...

Tagged with: fiduciary duty

Chimes International Ltd., a Baltimore-based nonprofit that provides job training to the disabled, breached its fiduciary duty as overseer of its employee health plan, which was a cash cow for the plan’s administrators and an inappropriate source of donations to Chimes, the federal government alleges in a lawsuit.

Tagged with: Chimes Internationa employee health plans erisa fiduciary duty