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Justfactsmam

07/01/15 11:58 AM

#26357 RE: Big bucks #26349

...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.