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Jimmy And Johnny Inflated The Value Of Television Inc.

285 Words2 Pages

Jimmy and Johnny got together and tried to deceive investors this is very illegal. The fact that they inflated the value of Television Inc. so that the board of directors would make the decision to buy Television Inc. The two of them made it look like the company was worth 498 million dollars more than it was actually worth. Because Jimmy is the CEO of News Corp. he has a fiduciary duty to the shareholders to ensure they get all the information so they can make an informed decision about the purchase of a company. The fact that he lied and worked with one of his family members to provide false information to the board of directors. Jimmy has a fiduciary duty of loyalty to the shareholders. Fiduciary duty of loyalty says that you can’t divert

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