fiduciary

In a sequence of rulings, Carter had found that the VA had a fiduciary duty to use the land for veterans housing and that the leases were invalid because they did not primarily serve veterans.

The lawsuit, filed on behalf of veterans by the nonprofit Public Counsel, the Inner City Law Center and two private law firms, alleged that the VA failed in its fiduciary duty to provide housing for disabled and homeless veterans on the campus.

But Rosenberg had repeatedly put the court on notice that the government disagreed with Carter’s underlying ruling that the VA had a fiduciary duty to build housing for veterans on the campus at all.

Plaintiffs allege violations of fiduciary duties and securities laws, including media appearances by Henrik Fisker touting the company’s prospects even as its fortunes declined.

In any event, the FTC said, the merged company’s fiduciary responsibility is “to deliver returns to its shareholders — not to lower prices to consumers.”