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tdlawyer
tdlawyer, Lawyer
Category: Law
Satisfied Customers: 1096
Experience:  11 years experience of general practice.
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What are consequences for a public company when the chairman

Resolved Question:

What are consequences for a public company when the chairman resorts to misleading and inadequate comments when responding to a resolution raised by shareholders.
Submitted: 3 years ago.
Category: Law
Expert:  tdlawyer replied 3 years ago.

tdlawyer :

Hello, welcome to the website. My name isXXXXX can assist you with this.

tdlawyer :

If a chairman misleads the members of a company, then they (or the company) could take action against the chairman. Depending on the nature of his remarks, it could potentially be a criminal offence, although that is less likely.

tdlawyer :

I see you're still offline - when you come online, I'll gladly chat with you more about this.

Customer: I've just found your answer. IS the company not also answerable. Michael Coffey
Customer: You appear to be offline.If not, please confirm position. Michael Coffey
tdlawyer :

Hi Michael

tdlawyer :

The company would potentially be liable too, yes, and it in turn would have a potential claim against the directors for breach of duty to the company and/or misfeasance.

tdlawyer :

Are you here?

Customer:

You seem to be disconnected and I am unable to comment on your answer to my query viz . is the company not also liable.

tdlawyer :

Hello - the company is also potentially liable, if it has caused some loss to somebody (due to the director's acts).

tdlawyer and 2 other Law Specialists are ready to help you
Customer: replied 3 years ago.

Sorry for not responding sooner to your request for rating of your service.I considered that you replied very expeditiously to my query but I was disappointed in the phrasing of your answers.
Michael Coffey
Expert:  tdlawyer replied 3 years ago.
Hi Michael.
Thanks for rating the answer.

If you were disappointed, please do tell me, and I can re-phrase things. It's always difficult to phrase things that work for everybody all the time first time around. I obviously don't know you or anybody else, but I can adapt and help out anytime.

Thanks!

Tony
Customer: replied 3 years ago.

My question related to the Chairman and shareholders of a company. You confused me by referring to the latter as members. In your answer to my supplemental question, you confused me further by telling me that the company would have a potential claim against the directors for breach of duty to the company and/or misfeance.
Michael Coffey