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- board member has only fiduciary duty
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A board member or officer can leak anything they want as long as their fiduciary duty is maintained. That means shareholders are not damaged financially.
Just because a person becomes an officer or director or employee doesn't mean they give up their rights of speech. However, they can not use their office to give credibility to what they say. For example, a journalist who says .. acording to a reliable source, or .. acording to a concerned citizen isn't saying a board member said...
Interestingly, in California, a recent case clarified that you are always better to Whistleblow through the press rather than through company procedures. Those policies are usually written to make it easier to fire those who speak out. But a democracy only functions well with freedom to blab.
Frank L. Mighetto CCP - Posted by: mighetto Posted on: 10/05/06 You are currently: a Guest | Members login | Terms of Use
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