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Q: Jane, a shareholder of Goodly Corporation, alleges that its directors decided to invest heavily in the firm's growth in negligent reliance on its officers' faulty financial reports. This caused
Goodly to borrow to meet its obligations, resulting in a drop in its stock price. Are the directors liable? Why or why not?
A: The directors of the company in any event if found negligent in taking a decision that would result a negative consequences to the company will held them liable.But if in any case as to the investors part to loan or not to take a loan will remain a [ self taking action. ]
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User: Jane, a shareholder of Goodly Corporation, alleges that its directors decided to invest heavily in the firm's growth in negligent reliance on its officers' faulty financial reports. This caused Goodly to borrow to meet its obligations, resulting in a drop in its stock price. Are the directors liable? Why or why not?

Weegy: The directors of the company in any event if found negligent in taking a decision that would result a negative consequences to the company will held them liable.But if in any case as to the investors part to loan or not to take a loan will remain a [ self taking action. ]
thegiantdwarf|Points 35|

User: so what would they be held reliable for if found negligent of borrowing just to meet their obligations to the stock holders.

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Asked 9/10/2011 7:47:59 AM
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