Legal Question in Securities Law in New Jersey
Resigned CEO Responsibility to disclose Mis-Management within Public Company
I have recently resigned from my position as CEO of a publicly traded company. During my four month period of employment, I reviewed the company's files and history of problematic management and corporate governance and discovered several instances which occurred over the past year which I felt were in violation of SEC guidelines and the Sarbanes Oaxley rule. I was unable to discuss the matters with the board of directors due to their hostility over my findings. The board turned against me and was unwilling to follow my leadership. Ultimately they voted to engage in a business relationship with a consulting firm which I felt would hurt our shareholders. I resigned from the company because I did not want to be involved or associated with the consulting firm they chose to do business with. Now that I am out of the company and no longer an officer or director, do I have a legal obligation to report my concerns of how the company was poorly managed over the past year, and where I feel it is headed under the same management? I would much rather just walk away, but I am worried that by NOT sharing my knowlege, it may come back to haunt me later for ''Non-Disclousure''. Please advise.
1 Answer from Attorneys
Re: Resigned CEO Responsibility to disclose Mis-Management within Public Company
you may have a Quit Tam case. Alson known as a whistle blower.