Insight 14 | Duties of Startup Directors and the Rule of Common Maximization

Do you know to whom directors of U.S. venture-backed companies owe their fiduciary duties to in case of conflict between the founders (common) and VCs (preferred)? (such as in down-rounds, recaps or sale of the company)?

Evan Epstein, the Founder and Managing Partner of Pacifica Global, wrote an article explaining these duties (particularly post Trados) arguing for better governance at venture-backed companies. To read the full article, you can go to this link at his Medium page.

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Pacifica Global was founded in San Francisco to serve as a leading corporate governance advisory firm. The mission of Pacifica Global is to help founders, executives, directors and investors solve some of their most complex corporate governance conflicts and challenges.