Source: http://masslegalresources.com/tag/deutsche
Timestamp: 2019-04-22 11:57:36+00:00

Document:
the trustees of a duly adopted by-law, in existence for seven years, was a breach of fiduciary duty.
motion to dismiss must be granted.
Duetsche Multi-Market Income Trust (“KMM”) and Duetsche Strategic Income Trust (“KST”).
of shareholders for the election of trustees.
board of trustees of both KMM and KST. The boards are divided into three classes of trustees.
trustees is up for election per year. In 2016, four seats on the board were up for election.
Marram v. Kobrick Offshore Fund, Ltd., 442 Mass. 43, 45 n.4 (2004).
the election of a successor, the incumbent trustees, who lost the plurality vote, remain in office.
vote was required to elect a member of the board of trustees.
Declarations, Art. IV, § 1 (c).
was a breach of fiduciary duty by the trustees.
“blatant and improper entrenchment.” Complaint, ¶ 5.
to seat the Western nominees. On October 5, 2016, Western commenced this action.
violates an implied duty of good faith and fair dealing inherent in the declarations and bylaws.
applied to the contested election at the 2016 annual meeting of shareholders.” Complaint, ¶ 66.
Defendants move to dismiss all counts for failure to state a claim.
documents that provide for the governance of the trusts are not disputed.
owe to the corporation both a duty of care and . . . a paramount duty of loyalty.” Demoulas v.
Capital Structures Fund Ltd. v. PIMCO Income Strategy Fund, 466 Mass. 368, 369 n. 4 (2013).
contract between the shareholders and the corporation. Id. at 373.
intended and agreed expectations of the parties in their performance”).
performance of the contract was in accordance with the unambiguous terms of the contract.
(the governance documents) existing between the trusts and Western.
interests of the company.” MAZ Partners LP v. Shear, 2016 WL 4574640 *5 (U.S.D.C., D.
because of my conclusion that the complaint fails to allege sufficient facts to state a claim.
else, and shall not be liable for errors of judgment or mistakes of fact or law.” Declarations, Art.
willful misfeasance, bad faith6 or gross negligence by any of the defendant trustees.
customary directors’ fees and benefits.” Harhen v. Brown, 431 Mass. 838, 843 n. 5 (2000).
Western does not allege such a pecuniary interest.
the only claim is that the trustees should not have applied the by-law in a contested election.
to invite a court’s inquiry into the decision of the boards of trustees to adhere to the by-laws.
interfering with a stockholder’s vote, even if taken advisedly and in good faith. Id. at 659.
Western does not seek to attack the 2009 adoption of the by-law.
Police & Fire Retirement System v. Axcelis Technologies, Inc., 1 A. 3d 281, 289 (Del.
complaint. The claim must be dismissed.
JOHN E. HASKINS vs. DEUTSCHE BANK NATIONAL TRUST COMPANY, trustee, & others.
Worcester. September 3, 2014. – November 10, 2014.
Present: Green, Graham, & Katzmann, JJ.
PAUL PEHOVIAK & another vs. DEUTSCHE BANK NATIONAL TRUST COMPANY.
Worcester. November 5, 2013. ‑ March 11, 2014.
Present: Cypher, Brown, & Fecteau, JJ.

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