New Orleans, LA asked in Securities Law for Illinois

Q: When can a shareholder be personally liable for a tort associated with a corporation?

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1 Lawyer Answer
Robert D. Kreisman
PREMIUM
Answered

A: Generally, shareholders are not liable for the tortious acts of the corporation. Officers and directors who may be found to be intimately involved in the tortious act or neglect that led to the injury, may be found personally liable for their acts or omissions.

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