mo@seismo.CSS.GOV (Mike O'Dell) (10/19/85)
Steve Job's seeming breech of his fiduciary responsibility has already been mentioned here. But more importantly, all the other directors of APPLE have the same responsibilities, making the suit against Jobs essentially mandatory. If the board had not sued him (with the purpose to protect Apple's future products), the board would be wide open for a stockholder's suit. While in general, the "corporate vail" protects directors from suits against the corporation, a stockholder's suit is very special - as a holder of a single share, you can sue a director or priniciple of the company, and they can be held PERSONALLY RESPONSIBLE!!! With this liability at stake, and the the apparent facts of the case, the Apple Board had no choice but to sue Mr. Jobs to protect Apple shareholder's interests. -Mike O'Dell