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Business Organizations Keyed to Cox
Shocking Technologies, Inc. v. Kosowsky
Citation:2012 WL 4482838
As part of his strategy to gain an additional board seat for a group of investors with whom he believed he shared a common objective, the director Simon J. Michael, who was aware that the company was in dire financial condition and in need of of an infusion of funds, sought to dissuade the only remaining potential investor from investing in the company. In doing so, he shared confidential company information with the potential investor. Michael believed he would be more likely be achieve his goals if either the potential investor withheld any additional investment in the company or the potential investor used the confidential information to get a better deal.
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