Max Sound Corporation (MAXD)

[J Galt]

“Defendant Halpern has engaged in conduct in his capacity as a director of defendant Max Sound constituting fraudulent or dishonest acts or gross abuse of authority or discretion with reference to the corporation.” These legal words have meaning. I’ve stated in the past many times, “conduct unbecoming for a CEO of a publicly traded company.” What does that mean? The leader of a public company needs to act the part. Not only in the boardroom, but also in the domain known as “social media.” He can’t be posting videos and disclosing inside information to aliases on a chat board. He can’t be slandering and libeling former partners, shareholders, and his angel investor without consequences. He can’t be manipulating the stock through fabricated deals. That’s the background for the removal process.