A judgement against Mr Macgregor personally doesn’t affect the corporation. But a judgement against LDSI could end this company. After all, this shell was purchased to start a new company for development of the Vastech motor technology. And so far nothing has been filed to restructure LDSI into this new entity. As it currently stands, LDSI is just the defunct shell of a company that went out of business 6 years ago. I seriously doubt that the board spent more than 100 thousand on this shell. So if there’s a judgement against LDSI in this lawsuit, the most likely outcome is bankruptcy. Why would the board pay out a million dollar judgement for a shell they could replace for a hundred grand? When you get down to actual value, the company has very little.
And that’s the nature of the lawsuit. The complaint repeatedly refers to LDSI stock as worthless.
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