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What is Hershey v. DLJ Securities: Fiduciary Duty Case about?

This document summarizes a court case in which Barry Hershey sued David Gunning and Donaldson, Lufkin & Jenrette Securities Corporation over the sale of Capital American Financial Corporation (CAF), a company Hershey founded. Hershey was the controlling shareholder of CAF and recruited Gunning to be CEO in 1993. In 1996, CAF was sold to Conseco with Hershey receiving over $200 million. Hershey alleged breach of fiduciary duty and other claims. The district court granted summary judgment for the defendants,

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