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Wrongful Act |
Also found in: Legal | 0.01 sec. |
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Wrongful Act An accidental or deliberate violation of fiduciary responsibility by a member of a board of directors. Examples include relatively minor mistakes like misstatements to reporters that affect stock prices, as well as felonies such as theft or fraud. Wrongful acts can result in lawsuits. Directors and officers insurance protects companies from liability due to wrongful acts. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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