Credit: sirtravelalot/Shutterstock.com Appeal Court Nixes $1.4M Award, Citing Improper Jury Instruction on Minority Shareholder's Fiduciary Duty
"Including shareholders in the instruction gave the false impression that all shareholders, regardless of their ownership stake, owe similar fiduciary duties as directors, officers, and employees," the court said. "That implication misstates the law and would mislead reasonable jurors."
March 10, 2023 at 05:35 PM
4 minute read
The Iowa Court of Appeals reversed a $1.4 million award against a minority shareholder of a family-owned construction company, determining the jury was given improper instructions as to the defendant's fiduciary duty.
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