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- W2213808506 abstract "Judicial decisions and the majority of the literature endorse the so-called shareholder primacy norm, under which the shareholders are the sole beneficiaries of corporate directors' fiduciary obligations. Some commentators, however, dispute the validity of the norm's rationales and argue that directors should also act as fiduciaries of other constituencies, in particular employees. Instead of reconsidering the substance of the fiduciary duties as those commentators do, this paper focuses on providing employees with the ability to enforce the fiduciary obligations as courts recognize them today. Tort law provides the necessary legal tool: the wrongful discharge action. Courts, in fact, sanction employers who discharge employees for reasons that conflict with public policy, regardless of the fact that the employment relationship is one at-will. Employees who are terminated as a result of a fiduciary breach should also be granted such a right of action. A discharge resulting from a fiduciary breach offends the important public policy embodied in the fiduciary duties. These duties are paramount to the economic system, as they are a guarantee necessary to induce the public at large to channel its fragmented resources into public companies. These assets, in turn, allow the common enterprises to develop the economy and to enhance general well being. Because the action would arise in tort, it would expose to liability both the employer and the directors who participate in the wrongful discharge." @default.
- W2213808506 created "2016-06-24" @default.
- W2213808506 creator A5080968551 @default.
- W2213808506 date "2006-10-03" @default.
- W2213808506 modified "2023-09-24" @default.
- W2213808506 title "A New Approach to Fiduciary Duties and Employees: Wrongful Discharge in Violation of Public Policy" @default.
- W2213808506 hasPublicationYear "2006" @default.
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