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Johanna is a hedge fund manager whose fund holds 55% of the shares of a large publically-traded corporation named Air Ontario Inc. Sally notices that

Johanna is a hedge fund manager whose fund holds 55% of the shares of a large publically-traded corporation named Air Ontario Inc. Sally notices that while Air Ontario Inc. has done well in past decades, a recent string of years where it has taken major losses would suggest that a change in senior management is a good idea. What is the best way for Johanna to take control of the corporation and make changes in the corporation's senior management?

A.

Take a meeting with the current President and CEO and ask them to resign.

B.

Use her fund's share ownership to elect new members of the Board of Directors who will replace the senior management with Johanna's preferred choices.

C.

Use her fund's share ownership to elect a new President and CEO who will then turn the corporation around.

D.

Use her fund's share ownership to hire enough new employees who will then turn the corporation around.

Sally Smith is a Chief Executive Officer at the Canadian corporation named Ontario Oil Products Ltd. ("OOPL"). OOPL manufactures oil-based products such as lubricants and motor oil and does this in Port Maitland, a small town along the Grand River which flows into Lake Erie in southern Ontario. One day in the summer of 2021, a large oil slick is discovered along one of Lake Erie's beautiful beaches. Several animals and fish are found dead along the beach. It is later determired the oil came from a tank on the OOPL property. Upon further investigation, it is determined that Sally directed the oil to be released because OOPL was short on funds and could no longer afford proper oil by-product waste removal. Can Sally Smith be found personally criminally respondsible for the actions of OOPL?

A.

No, because Ontario corporations can only be found liable for regulatory and/or enviromental offices.

B.

Yes, because the CEO's are appointed by shareholders who can demand the police charge officers with crimes.

C.

No, because corporations always act as shelds for their officers in all situations.

D.

Yes, if the court determines that she was the "directing mind" of the corporation and her actions led to this outcome.

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