LAW 3111H Midterm: Ch 9-10 Examples 10b-5
Document Summary
If they have a job to do, they"re supposed to ask these types of questions and examine this type of material & they don"t do it. If you were reckless we"re going to hold you accountable. If someone says you"re reckless: not only were you behaving unreasonably you were behaving super unreasonably. If you wanted to defend: this is not what many companies in our area would do. Ask some other company they"ll tell you the same thing. The audit itself, depending on how it was produced/ what they did with it might not establish primary liability for them. Published & read it then yeah it would work. Audit then give it to board, and board used it and promoted it then board would be on the hook. One person in your employment cna subject your entire company to liability. Erwin is doing exactly that, he is exposing them to that.
