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Supreme Court of Ohio

Description

Is Corporation Required to Advance Legal Fees for Director to Defend Lawsuit Filed by Shareholders?

When Suit Alleges Director Violated Fiduciary Duty to Corporation

11th District Court of Appeals (Trumbull County)

ISSUE: When a director of an Ohio corporation is sued by one or more shareholders for allegedly violating his fiduciary duty to act in the best interest of the corporation, do the state's corporation laws require the company to advance to that director the costs of his attorney fees to defend the lawsuit?

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Ohio Government Judicial Branch Supreme Court of Ohio

Markers Transcript

00:00:25	Michael N. Ungar for Sam M. Miller
00:08:03	Chad A. Readler for the Ohio State Bar Association
00:14:57	Irene Keyse-Walker for Murray and Samuel H. Miller
00:33:25	Summation: Marvin L. Karp for Sam M. Miller

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Note : Transcripts are compiled from uncorrected captions