law of business organisation

company directors? the sources of fiduciary duties that appivilis Part II: (30 marks) QUESTION 4 (15 Marks) Cassey Investment Pty Ltd (Cassey) is a renowned venture capitalist company. Cassey regularly looks for promising new ventures with high growth potential to invest. The directors of Cassey are Maria, Jess and Patricia On Patricia's recommendation, Maria and Jess would like to invest into a new start-up called Healthledger that can develop highly advanced blockchain technology for the storage of healthcare patient data. Maria, Jess and Patricia agreed to assess the prospect of the technology and engaged Cassey's IT team to prepare a report with all the technical information to determine the viability of the technology. The report predicts that the new technology in the making would be hugely successful. At the Cassey's board meeting, Jess, who has a computer science degree, was asked by Maria and Patricia to present the report. Jess assured Maria and Patricia that the blockchain technology looks perfectly fine. Unfortunately, some of the information in the report were incorrect and the report left out the problems that may arise from the application of the blockchain technology. In fact, there was the possibility that this technology might not be as successful as it was made out to be in the report. If Cassey suffers a financial difficulty and loss of the investment, can the company take any action against Maria, Jess and Patricia? Explain your answer by referring to legislation and cases, where relevant