Replies to post #111022 on DD Support Board and Research Team

[Sheepdog]

The non-employee audit committee board members would have liability,

Indeed, the independent members are assessed an even higher liability. I have seen that wording in recent court cases.

Personally I don't agree with that because it is based upon the unspoken but necessary proposition that executive members are somehow expected to "cheat".

[tdbowieknife]

How about a oversight/advisory committee with independent members? Liable?

Additionally, a newly-created Oversight/Advisory Committee with independent members will be ratified by the Board to advise the Board on plans, transactions and matters involving interrelated parties as described above as well as major undertakings of the company. The initial Oversight/Advisory Committee will be chaired by Henry L. Klein, an attorney experienced in securities litigation, John Bushnell, a commercial real estate professional with over 30 years experience in mergers and acquisitions, selected by the company's largest group of shareholders in Salt Lake City, Utah, and Carl McCutcheon, a well-lettered Harvard business graduate with over $9 billion in business transactions to his credit and impressive expertise in the oilfield service technology, exploration and production, and consultation acumen.

Henry Klein is of course the TECO gang of cons clown lawyer in the SEC case.


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