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Well that is a problem of the laws themselves. For any sufficiently large company, especially one where the CEO profits privately directly from the company prof
by 542354234235 6y ago
Well that is a problem of the laws themselves. For any sufficiently large company, especially one where the CEO profits privately directly from the company profiting publicly, a portion of that money should be tied to the company directly in terms of liability. You shouldn’t have to prove the CEO was directly involved. At the level they are, the very nature of their position should have some sort of liability in regards to the actions taken by that company under their watch. It should be built into the very regulations and laws. This would hold CEOs accountable for inaction, apathy, or ignorance leading to law breaking within their company, and it would only apply to compensation for managing said company.
- kube-system 6y agoThe laws in the US do pierce the corporate veil for execs, especially in the case of fraud. Also, SOX does make execs criminally liable for the accuracy of some financial records regardless of their involvement. I would not be surprised to see a class-action from investors in addition to this fine.