Brad is a shareholder of Cloud Servers Inc.He will be deemed to have a fiduciary duty to Cloud and its minority shareholders if he has a sufficient number of shares to

Question

Quizplus · Accepted Answer

A shareholder owes a fiduciary duty to the corporation and its minority shareholders if they exercise actual control over the corporation. Possessing a sufficient number of shares to assert a preemptive right, bring a shareholder's derivative suit, or participate in a cumulative vote does not necessarily grant a shareholder control over the corporation.

Brad Is a Shareholder of Cloud Servers Inc