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AYR » Topics » Our bye-laws restrict shareholders from bringing legal action against our officers and directors.These excerpts taken from the AYR 10-K filed Mar 2, 2009. Our
bye-laws restrict shareholders from bringing legal action
against our officers and directors.
Our bye-laws contain a broad waiver by our shareholders of any
claim or right of action, both individually and on our behalf,
against any of our officers or directors. The waiver applies to
any action
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taken by an officer or director, or the failure of an officer or
director to take any action, in the performance of his or her
duties, except with respect to any matter involving any fraud or
dishonesty on the part of the officer or director. This waiver
limits the right of shareholders to assert claims against our
officers and directors unless the act or failure to act involves
fraud or dishonesty.
Our bye-laws restrict shareholders from bringing legal action against our officers and directors. Our bye-laws contain a broad waiver by our shareholders of any claim or right of action, both individually and on our behalf, against any of our officers or directors. The waiver applies to any action
Table of Contentstaken by an officer or director, or the failure of an officer or director to take any action, in the performance of his or her duties, except with respect to any matter involving any fraud or dishonesty on the part of the officer or director. This waiver limits the right of shareholders to assert claims against our officers and directors unless the act or failure to act involves fraud or dishonesty. This excerpt taken from the AYR 10-Q filed Nov 17, 2008. Our
bye-laws restrict shareholders from bringing legal action
against our officers and directors.
Our bye-laws contain a broad waiver by our shareholders of any
claim or right of action, both individually and on our behalf,
against any of our officers or directors. The waiver applies to
any action taken by an officer or director, or the failure of an
officer or director to take any action, in the performance of
his or her duties, except with respect to any matter involving
any fraud or dishonesty on the part of the officer or director.
This waiver limits the right of shareholders to assert claims
against our officers and directors unless the act or failure to
act involves fraud or dishonesty.
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