What is the ratio in Percival v Wright?

Directors owe fiduciary duties to the company as a whole, not to individual shareholders, unless special circumstances exist.

What did the court decide in Percival v Wright?

The court held directors were not liable to shareholders for non-disclosure when purchasing shares, as no direct duty was owed to them.

Why is Percival v Wright important for company law?

It established the fundamental principle about the direction of directors' duties, though this has been qualified by subsequent developments in the law.

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