Gross negligence-based allegations did not state an actionable claim against corporate directors or officers, the Nevada Supreme Court held recently. That is because, based on its plain text, Nev. Rev. Stat. § 78.138(7) applies to all claims of individual liability against directors and officers, which precludes the imposition of liability for grossly negligent breaches of fiduciary duties. The Supreme Court said that a claimant must establish that the director or officer had knowledge that the alleged conduct was wrongful in order to show a knowing violation of law or intentional misconduct pursuant to the exculpatory statute.
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