Possible Breaches of Fiduciary Duty by Officers and Directors of Life Technology Corporation

February 22, 2017 | JLK Law

The Board of Directors of Life Technologies Corporation is under investigation for possible breaches of its fiduciary duties to the shareholders of the publically held corporation, which was recently purchased to Thermo Fischer Scientific, Inc..  Corporate Directors and Officers often find themselves in sticky situations when the corporation is being sold.  The Directors and Officers, many of whom are shareholders, may be acting in their own interest, not that of the corporation or all the shareholders. The Investigation into the sale of Life Technologies centers around the Boards alleged failure to adequately shop the company before agreeing to a sale; and whether Thermo Fischer Scientific, is underpaying for Life Technologies stock thereby harming the shareholders.

The Board of Directors is under a fiduciary duty to act in best interest of the shareholders and failing to obtain or attempt to obtain the highest price for the company’s stock could be a breach of their fiduciary duties.   Shareholders are often at the mercy of the Board of Directors whom are entrusted to make decision concerning sale of the Corporation and sale of the Corporation’s assets.  Corporate Directors and Officers must act with utmost competency and transparency in sales transaction to avoid the appearance of impropriety.

If you believe you have been wronged by a Corporate Board of Directors and/or Corporate Officers, whether a publicly held or private Corporation, give us a call.  If you are a Corporate Director of Officer accused of breaching your fiduciary duty we can also help.  We have experience regarding breaches of Fiduciary Duties by Corporate Officers and Employees of the Corporation.  We also have experience handling disputes involving closely held businesses and corporations.  For more information contact Christopher P. Katers at Judge, Lang & Glynn, S.C., ckaters@jlg-law.com or (414) 777-0778.  Judge, Lang, & Glynn, S.C is law firm based in Wisconsin offering services to individuals and corporations throughout the United States.