Replies to post #210707 on Cytodyn Inc (CYDY)

[justdafactss]

(Sigh)- To be exempt as an executive-business owner under the FLSA, an individual must (1) be employed in a bona fide executive capacity, (2) own at least a 20% bona fide interest in the business and (3) be actively engaged in the management of the business.

Unless an employee meets each of these requirements, paying in equity alone will run afoul of wage laws, and could result in significant liability for the employer, as well as possible individual liability for the president, treasurer, and individual “officers and agents” of the employer’s corporate entity.

[daemon57]

I'll ask again, why are the execs sticking around at Cytodyn?

I thought taking a portion of their salary (according to the 8-Ks) in equity would have answered that? Could've sworn the shorts could have answered that obvious and legitimate question.

GLTA REAL LONGS.