GrowLife Inc (fka PHOT)

[Sujitta]

no problem.... also this is why a lot of executives and Directors will purchase 'umbrella' policies to cover them... you never know what the other guy is doing so you have to protect yourself.

Also, the deductible (in our case over $200k) had to be paid in order for the insurance kicks in.... it took a year, we won against a class action law firm mill and the deductible was reimbursed to the company. This is a typical insurance policy when it comes to D&O. If we were found guilty of fraud, the deductible would be gone and the insurance too.. All very standard. The deductible is enough to take the case through discovery and everyone would know where they stood a that point.

Also, the lawyer fees are outrageous... not only for a partner (most likely over $700 an hour for a good one) but all the other lawyers that work on the case.

This is why I stated if fraud was involved they will spend millions defending themselves plus the claw back claw ill gotten gains.

Anyway you look at it, these guys are toast.