Question
6. Zeke wishes to purchase shares in Lighthouse Games a video gaming company that makes his favourite game Duty Call. The share price is $15
6. Zeke wishes to purchase shares in Lighthouse Games a video gaming company that makes his favourite game Duty Call. The share price is $15 for each general share. a) As a shareholder does Zeke have any duties towards Lighthouse Game? b) There are two directors of Lighthouse Games Jamal and Jesus. This is the first time they have ever been directors. They used to be programmers but decided to run the company. Jamal and Jesus did not ensure that people were paid regularly and that income taxes, WSIB and other costs were deducted from the staffs paychecks. At the end of the year, Jamal and Jesus received a bill for the outstanding deductions which was $72, 575.00. Do they have to pay it why or why not?
7. Jamal and Jesus decide to also work for EX Games their major competitor to earn more money. They told EX Games about some of the new games that Lighthouse Games would be putting out in 3-6 months. EX Games copied their ideals and introduced new games, that were identical to the Lighthouse Games in 2 weeks time. When the shareholders found out they called for Jamal and Jesuss firing and that they be sued for the losses. Is this firing justified, why or why not?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started