By Arthur Mertes

All directors of private companies have fiduciary duties of due care and loyalty which govern their conduct and oversight of the companies they serve. These fiduciary duties require the director to discharge them with care, adequate information, competence, diligence and good faith. Heightened standards by which they are judged evolve under the law as new theories of liability are asserted against Boards. While the COVID-19 pandemic has resulted in many reactive company measures in response to a rapid pace of ongoing developments, we do not yet fully know how the Board’s oversight will be scrutinized.

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