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Congratulations! Correct
Answer!
Fiduciary Duty
B.
A duty of utmost good faith, trust, confidence and candor
owed by a fiduciary (such as a lawyer or a corporate officer) to the
beneficiary (such as a lawyer's client or a shareholder).
 Listen
to pronunciation
Legal Definition -
A duty of utmost
good faith, trust, confidence and candor owed by a fiduciary (such as a
lawyer or a corporate officer) to the beneficiary (such as a lawyer's
client or a shareholder); a duty to act with the highest degree of honesty
and loyalty toward another person and in the interests of the other person
(such as the duty that one partner owes to another).
Black's
Law Dictionary® Eighth Edition © 2004
Current Usage
Sun shareholders act to block Oracle deal
The Register 8 May 2009
Shareholders have filed three separate actions citing "breach of
fiduciary
duty", according to Sun's latest Securities and Exchange Commission (SEC)
filing. The actions have been filed with a court in Sun and Oracle's home
state of California.
The lawsuits claim the amount offered for Sun is "unfair and inadequate."
The tender price offered by Oracle was generally considered to be a
bargain, and came as Sun has been shopping itself around the industry.
Ironically, it was a group of Sun's shareholders - Southeastern Asset
Management - that increased their holding in the company throughout the
course of 2008 as part of a move to influence management and help
"realize" Sun's value.
Sun and Oracle have yet to respond to the allegations.
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