In today’s volatile oil and gas market, directors of energy corporations need to avoid any appearance of improper self-dealing or risk being hit with lawsuits alleging breach of fiduciary duty.
In the case The Huff Energy Fund v. Longview Energy Company recently reviewed by the Texas Fourth Court of Appeals, the Longview Energy Company sued two of its directors and others for, among other claims, allegedly breaching their fiduciary obligations by taking a corporate opportunity that belonged to Longview.
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