Director's Fiduciary Duties: Increasing Focus on Good Faith and Independence

Foley Partner Gardner Davis and Senior Counsel Danielle Whitley authored an article titled “Director’s Fiduciary Duties: Increasing Focus on Good Faith and Independence” in the July/August 2009 issue of The Florida Bar Journal. The authors discuss the changing legal standards for directors of Florida corporations and how counsel can advise directors to reduce the risk of legal action. They state that growing legal expectations require corporate directors to actively engage in the supervision of a company, adding that directors’ knowing failure to undertake their responsibilities constitutes bad faith and a breach of their duty of loyalty.