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In re World Health Alternatives

385 B.R. 576 (2008)

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In re World Health Alternatives

United States Bankruptcy Court for the District of Delaware
385 B.R. 576 (2008)

SC

Facts

World Health Alternatives (World Health) filed for bankruptcy after being investigated by the Securities and Exchange Commission (SEC) for making material misrepresentations in its SEC filings. Brian Licastro (defendant) was the general counsel for World Health. The trustee, George Miller (the trustee) (plaintiff) filed a complaint alleging that Licastro breached his fiduciary duty to World Health shareholders by not implementing a system of financial reporting that ensured the reporting would comply with the law. Licastro filed a motion to dismiss, arguing that the trustee did not plead any accusations with specificity.

Rule of Law

Issue

Holding and Reasoning (Walsh, J.)

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