Attorneys provide advice and counsel and act on your behalf in the role of an agent, you are the principal. What control do these lawyers have? None. If Steve, the CEO, believes that it is in the best interest of SLJB to release the PRs than he should do. Sounds like Steve and Petar are passing the buck again just like it was the Windsor Star's fault that the PPS crashed on November 16, it is now the attorneys' fault that they cannot release any PRs. Come on folks.
Not exactly correct. The corporate directors have a fiduciary duty to act in the best interests of the corporation, acting on the advice of appropriate experts (including legal counsel) where appropriate. If legal counsel has advised the directors NOT to publish certain information to protect the corporate interests, it easily could expose the directors to individual liability if they disregard that advice.
I am NOT making any judgments here about whether any of this is the case here, nor am I overlooking the potential liability of the directors for past actions that have been discussed here ad nauseum. For all I know, the excuse that the lawyers won't allow the release of information may be a complete fabrication. I lost trust in much of what this company says some time ago, but believe a bounce is coming in the share price. Having said that, it is wrong to state flatly that corporate directors can simply disregard corporate legal advice without consequence.
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