Legal Question in Business Law in Florida
Obligations of Directors
Are the directors of a company liable for the the action of a preseident appointed by them to manage a company if he openly embezzeled funds from the said comapny
Asked on 8/17/06, 2:19 pm
2 Answers from Attorneys
Michael Stewart
Michael D. Stewart
Re: Obligations of Directors
They knew what was happening?
Answered on 8/17/06, 7:15 pm
Richard Weldon
Weldon & Rothman, PL
Re: Obligations of Directors
Generally, the directors of a company have certain fiduciary duties to the shareholders of the company. Your question is too vague to provide much more in this type of forum. The liability on the part of the directors cannot be assessed without the specific details of the case.
If you would like to discuss this matter further, then please do not hesitate to contact my office.
Answered on 8/17/06, 9:21 pm
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