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Question
Mr. Blue has invested in SuperMart Inc. Mr. Blue purchased $5000 worth of shares or 3% equity in the company. Shortly after investing SuperMart Inc. is found guilty of various civil wrongs and a judgment is entered in against the company for 3.1 million dollars. How much liability will Mr. Blue have?
A. $5000 will be the limit of his liability
B. $93,000 or 3% of the value of the judgment
C. $0 Since Mr. Blue was not a managing officer
D. $100,000 which is statutory minimum for investor liability
Answer
This answer is hidden. It contains 85 characters.
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