Capital Advisors, LLC v. Cai C/w 85378

Summary

The Nevada Supreme Court held that officers and directors of a parent corporation may be liable for intentionally causing or knowingly permitting a wholly owned subsidiary, including one several tiers below the parent, to take action adverse to the parent and its shareholders without piercing the corporate veil. Applying that rule and the de novo standard for judgment as a matter of law, the court found sufficient evidence for most of the fiduciary-duty, corporate-waste, conspiracy, and unjust-enrichment claims, but not for the claim involving CAMG’s alleged opportunity to invest in NAHL. The court affirmed in part, reversed in part, vacated the attorney-fee award, and remanded.