Big Law

Shareholder fiduciary breach lawsuit against Fitbit may proceed

A handful of Fitbit stockholders’ breach of fiduciary duties case against members of the company’s board of directors survived dismissal in the Court of Chancery of the State of Delaware on Dec. 14.

Stockholders for the popular fitness tech company claimed members of the board and its chief financial officer infringed on the fiduciary duties when they allegedly used insider knowledge of a bad product to make more money from the company’s stock.

Read the source article at Legal Newsline

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