Corporate Financial Mismanagement Concerns

Summary

Directors have fiduciary duties to act in the companys best interests. If directors wages were not agreed upon by shareholders, it may indicate a breach of fiduciary duty. Review company bylaws and shareholder agreements for clarity. Consider consulting a corporate law attorney for guidance.

Full Conversation

I belive im being dulted on purpose
Hey Ben! It sounds like you're dealing with a situation where you feel deceived. Could you let me know what the specific issue is or any particular details about what's happening? This will help me provide more relevant legal information.
the directors are the main shareholders and are saying the main debt is there wages of 120k for the year
Hi Ben! It seems you're concerned about whether the directors are manipulating the financial situation of the company. Here's some general information on handling such concerns:
- Directors have fiduciary duties to act in the best interests of the company.
- You may want to review the company's financial statements and any agreements about director wages.
- Consider seeking advice from an accountant or legal professional specializing in corporate law.
Do you think there's any breach of fiduciary duty or misrepresentation going on?
yes i do ,as the wages were not agreed by the shareholders I have *%
Case Rating: *
It seems you believe there's a potential breach of fiduciary duty concerning directors’ wages. Here are some points to consider:
- Shareholders typically have a say in approving significant financial decisions.
- You might want to explore any shareholder agreements or company bylaws concerning this issue.
Would you like to connect with local lawyers who can better assist you with your case?