New York | Securities Law
4/13/09, 6:37 pm
Legal Question
SEC /Judgement
I'm a major shareholder of a privately held corporation. I am not on the Board nor do I work for the company. I've been told that there is a possibility that a $2,500,000 fine might be issued against the company. The comapny has no money or income at this time. Who is responsible to pay the fine if the corporation is not able to and goes out of business?
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