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BS Law Exam IIQ9 - Again Ted can be released without cause...

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BS Law Exam II, Q 9 James Tilley BAA 3210 The shareholders can remove Ted with or without cause unless the articles of incorporation states that directors may be removed only for cause. Ted must be removed by the same share holders that voted him to the board of directors. Once Ted is released from the board, that special meeting is closed. In Ted’s case he was released due to a bet with an old friend that happens to influence the entire board of directors.
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Unformatted text preview: Again Ted can be released without cause giving him no appeal with the company. Ted can file a lawsuit for discrimination against the board and the company. This will allow Ted to explain in detail the situation and prove that his release was unjust. Ted could not have performed to his full potential within the one week as a director, and his release was not based upon performance but off work personal reasons....
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