Olsen v. Seifert

Plaintiff Robert Olsen has filed the present action complaining that defendants breached the duty of utmost good faith and loyalty owed to plaintiff as a fellow shareholder in a close corporation (Count I) and breached the covenant of good faith and fair dealing in terminating plaintiffs employment with that corporation (Count II). Defendants William Seifert and Agile Networks, Inc. have moved for judgment on the pleadings on the grounds that (1) Delaware law does not impose fiduciary duties on shareholders in a close corporation and (2) Olsen’s claim for wrongful termination fails because…