Jury Finds Officers and Directors Liable for $5.75 Million in Damages Court upholds verdicts for breach of fiduciary duty in bankruptcy case involving “deepening insolvency” Lead Stories
Court Approves Indemnification For Trustees of Private Foundation Directors may be protected despite having started suit that prompted counter charges of breach of duties Lead Stories
IRS Tea Party “Scandal” Shows Need for (c)(4) Definition Evidence shows workers struggling to define limits, not Administration effort to target political foes Ready Reference
New PA Attorney General Settles with Hershey Trust Trustees Trustees absolved of breach of fiduciary duty claims but agree to changes in practice for future Lead Stories
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Members Can’t Remove Directors of Board-Only Nonprofit Court holds improperly ousted directors in contempt for failing to turn over documents pursuant to Order Lead Stories
Official May Warn Public Of High Fundraising Costs Charity named as bad example has no claim for violation of Equal Protection Clause Lead Stories
Letter of Intent With “Out” Clause Allows Hospital Purchaser a Way Out Although parties announced agreed-upon terms of sale, termination clause in LOI prevails to stop deal Lead Stories
IRS Finds Unrelated Business Income, Unreported Compensation in College Study 90% of schools examined underreported taxable income, all of smaller exam group underreported compensation of executives Ready Reference
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