pdf

Feinstein Quoted in Private Equity Manager on GPs' Fiduciary Duties to Investors

October 08, 2014 Private Equity Manager’s October 7, 2014, “GPs Look To Limit Fiduciary Duties,” quotes O’Melveny partner Marc Feinstein on how GPs who negotiate a fiduciary duty carve-out can protect themselves from breach-of-contract lawsuits. "Investors couldn't sue for tortious conduct based on a claim for breach of fiduciary duty. And if you are only suing for breach of contract then your damages won't include punitive damages; and if you can't sue for fiduciary duty then you might not have some of the remedies available like disgorgement of profit," Feinstein said in the article.

Feinstein is a partner in O'Melveny's Los Angeles office and a member of the Business Trial and Litigation Practice.