Vita Mobile Systems Inc (VMSI)

[Ganjo]

If you understood my letter, you would realize that there is a lot more to be afraid of than a lawsuit- if, indeed, there is wrong-doing. Still, I am not against a lawsuit.

Incidentally, a corporation does not necessarily prevent an principal in a corporation from certain actions that "pierce the veil" of the corporate shield.

"A court will look at a number of factors to determine whether it should apply the doctrine, such as whether corporate formalities have been disregarded, whether there has been a comingling of personal and corporate assets, whether the company is undercapitalized, whether the company is a just an instrumentality of another person or corporation and serves no legitimate business purpose and whether there has been fraud. Owners should be careful to avoid these circumstances so that this doctrine will not be applied."

https://brownconnery.com/the-limitations-of-limited-liability/

But when I mentioned that there are more things to be afraid of than a lawsuit, I wasn't really talking about the fines and penalties of a civil lawsuit. There can be much more serious consequences than that for malbehavior by principals in a corporation.