22nd Century Group Inc (XXII): ...simple LEGAL reason why he is still o...

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22nd Century Group Inc (XXII)

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Re: Big bucks post# 26349

Wednesday, 07/01/2015 11:58:19 AM

Wednesday, July 01, 2015 11:58:19 AM

...simple LEGAL reason why he is still on the BOD...he was elected by SH for a term and cannot be removed except for cause...the lawsuit against him will take time...but is addressing "for cause"...

Basic corporate law...Director cannot be removed except after term or by BOD after determination by court that he has breached fiduciary duties or other official misconduct.

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