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> Instead there are options: Neither of these options are what has been commonly referred to as “piercing the corporate veil”: hold the shareholders accountabl
by lcnPylGDnU4H9OF 3y ago
> Instead there are options:
Neither of these options are what has been commonly referred to as “piercing the corporate veil”: hold the shareholders accountable for the decisions of their hired executives. We’ve been talking about this exact issue so long that it has a name we’ve stopped using.
https://en.wikipedia.org/wiki/Piercing_the_corporate_veil https://en.wikipedia.org/wiki/Piercing_the_corporate_veil
If a company is being fined millions of dollars it’s likely because they made decisions which should reasonably land those responsible in prison.
- salawat 3y agoThe shareholders are already held accountable by the practice of fining. The shareholders have a "merely financial" interest. The ptoblem with not piercing the corporate veil is specifically that execs end up getting a "free pass" as it were to do scummy things.