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" ... And that’s what happened in this case. “While we all hope that our old college friends hold us in high regard, few would expect these long-lost friends to make their interests subservient to our own, much less following a thirty-five-year break in communication.” But “[t]he effect of imposing a fiduciary duty is to require the fiduciary party to place someone else’s interests above its own.” For that reason, the Supreme Court of Texas has declined to “impos[e] a fiduciary duty based on the fact that, for four years, [the parties] were friends and frequent dining partners.” Moreover, “mere subjective trust does not . . . transform arm’s length dealing into a fiduciary relationship.” Therefore, “the fact that [Classmate A] [fully] trusted [Classmate B] does not transform their business arrangement into a fiduciary relationship.” ... "
" ... While this situation is somewhat unusual, in that the original NPA was pursuant to the Antitrust Division’s distinct amnesty program, the Justice Department’s voiding of the immunity agreement is consistent with AAG Caldwell’s observation that the Justice Department has many tools at its disposal if it suspects or finds non-compliance with the terms of DPAs and NPAs, including "impos[ing] an additional monetary penalty or additional compliance or remedial measures." Recognizing that "not every breach of a DPA warrants the same penalty," Caldwell expressed that the Justice Department is "committed to pursuing an appropriate remedy in each case, and [] will calibrate the penalty we pursue to fit the nature of the violation and the corporation's history and culture." ... "