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The potential for individual liability for officers and directors arises as more venture-backed companies become distressed and face the prospect of insolvency. The ability of officers and directors to manage competing responsibilities to company shareholders and creditors is complicated by their potential liability for unpaid employee wages under some state wage laws, and for breach of fiduciary duties owed to creditors.
February 13, 2002 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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