EXECUTIVE LIABILITY

In conjunction with our professional liability practice, LITCHFIELD CAVO litigators have the special expertise to defend officers, directors, or business entities when sued in civil actions by shareholders, other investors (such as limited partners), or a wide variety of third parties. Officers and directors are increasingly targeted for their actions, or alleged failures to act, by plaintiffs suffering losses in a wide variety of contexts. In bringing such suits, plaintiffs rely not just on common law theories such as negligence, breach of fiduciary duty, and claimed fraud, but also on a proliferating number of federal and state statutory remedies arising in such areas as securities law, civil rights law, environmental law, or food and drug law.

General examples of suits we have defended include:

  • Defended Director of Savings and Loan Association that was sued by various entities after the failure of that institution.
  • Defended a class action brought against the Directors and Officers of a major accounting firm by investors in certain ventures that failed including the construction of refineries nationally.
  • Defended Directors of a law firm accused of breach of fiduciary duty and mismanagement by a former shareholder.
  • Defended Directors of a major manufacturing company sued by its former President who had been ousted.
LITCHFIELD CAVO is also called upon to act as coverage counsel in connection with claims under primary and excess policies to analyze whether coverage exists for officers, directors, or business entities sued in such litigation.
 
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An Illinois Limited Liability Partnership