In this Dorsey seminar, Dorsey Ethics partner William Wernz and Dorsey fiduciary-duty litigation veteran Chip Magid discuss the law, ethical rules, traps and best practices for counsel to closely-held entities. They describe how under a number of recurring circumstances courts have held that counsel to the entity may also owe fiduciary duties to the owners and be liable to a minority owner for breaching those duties or aiding and abetting their breach. The issues of when counsel to a closely-held entity needs to be concerned, and what counsel can ethically do to reduce this risk will be considered.
We will apply for MN CLE credit for this program. Dorsey & Whitney LLP is an Accredited Provider of CLE in CA and NY and this program will be accredited for CLE in those states. We may apply in other states based on attendance.