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Question
Corporate officers and directors owe no duty to individual shareholders.Answer
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Related questions
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Wilbur files a petition in bankruptcy for relief through an individual's repayment plan. Wilbur is granted a discharge. Debts that will not be discharged include claims for
A.contributions to employee benefit plans.
B.money to be paid for services not rendered.
C.fraudulently incurred debt.
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For action to be taken during a shareholders' meeting, a quorum must be present.
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The article of corporation cannot exclude shareholders' voting rights.
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A board of directors can delegate some functions to corporate officers.
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Directors are rarely compensated, but when they are, they can set their own compensation.
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A director usually serves on a corporation's board for a life term.
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An individual director does not act as an agent to bind the corporation.
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Frothy Beverage Corporation is a public company whose shares are traded in the public securities markets. Under the Securities Act of 1933, Frothy is required to
A.contribute to the operations of national stock exchanges.
B.disclose financial and other information about its securities.
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Pumping up a company occurs when a single person using multiple aliases on an online forum creates the illusion of widespread interest in a stock.
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"Forward-looking" financial forecasts are prohibited under SEC Rule 10b-5.
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The Securities Exchange Act of 1934 provides for continuous, periodic disclosures by publicly held corporations.
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Against a charge of a violation of the Securities Act of 1933, only an issuer of stock can assert the due diligence defense.
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Few securities can be resold without registration.
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An employer with fewer than fifteen employees is automatically shielded from federal employment discrimination laws.