Answered
Michelyn is a director in Zemp Corporation. She has been quietly taking product home and selling it on the black market. The other directors of Zemp Corporation know about Michelyn's actions but fail to take corrective action. Zellen, a shareholder finds out and comes to you asking you what to do. What do you tell Zellen?
A) That Zellen has no recourse because the other officers must bring the suit against Michelyn.
B) Zellen should initiate a shareholder's derivative suit.
C) Zellen should initiate a shareholder's direct suit.
D) Zellen should seek help from the Secretary of State.
E) Zellen should bring a personal suit against Michelyn alleged wrong doing.
On Jul 05, 2024