NEUBAUER v. GOLDFARB, B157329
Waiver of corporate directors' and majority shareholders' fiduciary duties to minority shareholders in private close corporations is against public policy, and a contract waiver provision is void. Triable issues exist as to whether defendants made false statements or failed to disclose material facts bearing on the value of plaintiff's stock.
- Decided 04/23/2003
- Published 04/24/2003
- California Court of Appeal
- For Appellant:
- Gibson, Dunn & Crutcher, Phillip L. Bosl, Theodore J. Boutrous, Jr., William E. Thomson and Julian W. Poon, Los Angeles, for Plaintiffs and Appellants.
- For Appellees:
- O'Melveny & Myers, David P. Enzminger and Paula E. Ambrosini, Los Angeles, for Defendants and Respondents.