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I believe so, he has the duty to private "accredited" investors. IIRC, this is sort of what toppled Shkreli-- he mishandled investor money in a criminal manner,
by quaquaqua1 7y ago
I believe so, he has the duty to private "accredited" investors. IIRC, this is sort of what toppled Shkreli-- he mishandled investor money in a criminal manner, despite actually not losing any of their money.
- erikpukinskis 7y agoShkreli got busted for fraud, not fiduciary duty. He paid our investors in one investment with profits from another. Unlike Elon Musk he didn’t do so publicly and with shareholder approval.
- throwaway5752 7y agoRegardless of that execrable Shkreli, you have de jure fiduciary duties if you are on the board of a private company, yes. At least in the most common forms of incorporation. I am not even sure if it requires you have other shareholders, let alone if you are a controlling shareholder or they are accredited investors.