Legal Opinion
Powers v. British Vita, P.L.C.
District Court, S.D. New York
Decided February 11, 1997No. 92 CV 4000 MPPublishedCited by 10 opinions
1Opinion of the Court
DECISION ON COUNTS II AND III OF THE COMPLAINT
POLLACK, District Judge.
THE COURT: The defendants contend that Count II should be dismissed because Powers, as an option holder, is owed no fiduciary duties. Plaintiff concedes that fiduciary duties are not owed to purchasers of options on the open market for speculative purposes but argues that such duties are owed to employees with “sweat” options. Plaintiff claims that option holders whose options were not purchased on the open market, were exchanged for lending money, but were granted essentially as employee compensation, and held as…
2Cases cited12 opinions
- In Re Tri-Star Pictures, Inc., LitigationSupreme Court of Delaware · 1993
- Anadarko Petroleum Corp. v. Panhandle Eastern Corp.Supreme Court of Delaware · 1988
- Wood v. Coastal States Gas Corp.Supreme Court of Delaware · 1979
- Harman v. Masoneilan International, Inc.Supreme Court of Delaware · 1982
- Simons v. CoganSupreme Court of Delaware · 1988
7 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- In Re Cendant Corp. Securities LitigationDistrict Court, D. New Jersey · 1999
- McGoldrick v. TruePosition, Inc.District Court, E.D. Pennsylvania · 2009
- BHC Interim Funding, L.P. v. Finantra Capital, Inc.District Court, S.D. New York · 2003
- Gerald Gresh v. Waste Services of America, IncCourt of Appeals for the Sixth Circuit · 2009
- Collins v. Morgan Stanley Dean WitterDistrict Court, S.D. Texas · 1999
5 more not listed; retrieve them via the Exa API.