Below is information about CORPORATE OFFICERS LIABILITY from a variety of sources. Please take a look at the materials that our team has selected for you.
https://www.upcounsel.com/personal-liability-of-corporate-officers
Limited Liability. 4. Fiduciary Duties. Personal liability of corporate officers comes with being an officer of a corporation. While you are able to serve as a strategic thinker, be looked upon as a visionary, and maintain a profitable venture, it can also be quite dramatic. Many corporate officers face the temptations that come with corruption ...
https://legalbeagle.com/12719411-what-liability-does-a-corporation-have-for-its-officers.html
A corporation can be liable for the criminal activity of its officers if the criminal acts are closely related to their employment with the corporation. However, whether an officer was acting within the scope of his employment can be a debatable issue. Generally, there must always be a rational relationship between an officer’s corporate ...
https://corpgov.law.harvard.edu/2021/02/21/recent-trends-in-officer-liability/
AmerisourceBergan Corp., in the context of resolving a books and records demand seeking “senior management materials,” the Court of Chancery expanded on officer liability, reiterating the longstanding principle that officers are “corporate fiduciaries” who “owe the same duties to the corporation and its stockholders as directors.”.
https://corporations.uslegal.com/officer-and-director-liability/
Both officers and directors of those corporations faced civil and criminal liability. Members of boards of directors for Enron and WorldCom agreed to pay millions of dollars out of their own pockets as part of settlement agreements. The U.S. Securities and Exchange Commission brought charges against top company officers, seeking to recover ...
https://www.investopedia.com/terms/d/directors-and-officers-liability-insurance.asp
Corporate reimbursement coverage protects a company against losses resulting from legal action against its directors and officers. more Bankers Professional Liability – BPL Insurance Definition
https://legalbeagle.com/12717738-can-the-officer-of-a-corporation-be-held-personally-liable.html
There are instances where officers and directors are exposed to liability that arises through corporate actions. The most common areas of personal liability touch on actions that officers and directors take that are not specifically authorized or are negligent. For example, if an officer gets into an accident while driving the company car, the ...
https://www.cga.ct.gov/2002/rpt/2002-R-0704.htm
Corporate officers have also been held liable personally for violations of the Federal Clean Water Act (United States v.Gulf Park Water Co. 972 F Sup. 1056, 1064 (S.D. Miss 1997)). These principles of individual liability, known as the responsible corporate officer doctrine, may also apply in the context of other state and federal environmental protection laws.
https://www.upcounsel.com/corporate-legal-liability
Corporate legal liability covers the following: Fraud claims where an employee of the company has been accused of wrongdoing, violations like water contamination, and trespassing. Contracts and obligations entered on behalf of the corporation by employees, officers, or corporate directors. Contracts entered into before the formation of the ...
https://www.wolfbaldwin.com/articles/small-business-articles/liability-of-officers-and-directors/
The firm counsels both businesses and individuals regarding a variety of business and civil litigation issues, including fraud and the liability of officers and directors for malfeasance. We will represent persons injured by the fraudulent conduct of corporate agents, and we will represent officers and directors accused of wrongdoing if they ...
https://www.stimmel-law.com/en/articles/corporate-officers-duties-and-fiduciary-responsibilities
The Three Basic Types of Fiduciary Duties. Most states, including California, maintain three basic fiduciary duties. 1) Duty of Care – directors and officers must use care and be diligent when making decisions on behalf of the corporation and its shareholders (who are the true owners of the corporation). Directors and officers meet their duty ...
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