Partner Roger Lane and Senior Counsel Courtney Worcester will speak at the Celesq program, "Venture Capital Firms and Fiduciary Duties: Considerations and Developments for Corporate and Securities Counsel."
When venture capital firms invest in portfolio companies, it is common for a general partner of the fund to take a position on the company's board. It is understood that the general partner owes a fiduciary duty to the company's stockholders, but what about the venture capital fund itself? Under what circumstances may the fund be found to owe fiduciary duties to the company's other stockholders? What are the limitations on what the fund can do? May the fund exercise its contractual rights with impunity or are there limitations? The program will explore these questions in this evolving area of the law and provide practical advice for addressing them to counsel who advise venture capital funds and portfolio companies.
For more information, please visit the West LegalEdcenter Web site.