midrange-nontech-request@xxxxxxxxxxxx wrote:

>   7. RE: Programmer Liability (Walden H. Leverich)
>
>>Investors should know about that decision and liability 
>>should go along as far as the decision-making goes 
>
>Corporate liability or personal liability? Risk/reward decisions are
>part of everyday business. 
>
>In your example of the bulldozer situation -- I have no problem with the
>idea that a company not mark lines and pay any damages that may result.
>That's a risk/reward business decision and should not impart any
>personal liability on the decision maker -- the liability rests with the
>company.

Troublesome distinction. I don't know enough to voice a good opinion, but I 
have general feelings.

Investors tend to be the ones who choose directors and therefore company 
executives. Investors thereby put their investment at risk based upon the 
wisdom of their choices. In that sense, i.e., the sense of loss of investment, 
there is personal liability in it. But of course that's legally just a part of 
'corporate liability' (AFAIK, IANAL) -- when corporate money is paid out in 
fines, etc., assets are reduced and some investment is lost.

But I also believe that there is additional personal liability for investors if 
it can be shown that they set the corporation up so that it could take actions 
that would be considered criminal and shield the investors from responsibility 
for those actions; I suspect that courts (juries) would/could give similar 
consideration in civil cases.

It's speculation on my part. I'd need to know a lot more about a given case 
before I'd be willing to vote for a plaintiff or defendant.

Tom Liotta


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