ALLEGATIONS
- Conflict of interests, acting beyond their authority
- Giving wrong advice, breach of fiduciary duties
- Misrepresentation of reports, financial statements
- Breach of contract, torts, violation of statute laws
- Violation of by-laws
- Improper self-dealing, fraudulent conduct
- Acquiescence in conduct of fellow directors
- Transactions with companies in which officers or directors are personally interested
Mistakes/Errors
- Disclosure of material facts, false or misleading reports
- Employee dismissal
- Dissemination of false or misleading information
Financial Mismanagement Allegations
- Authorizing excessive spending, unauthorized borrowing
- Inefficient administration resulting in losses
- Sale of assets for unreasonably low prices, wasting of assets
Negligence Allegations
- Failure to supervise subordinates or affairs properly
- Continual absence from meetings shirking responsibility
- Failure to examine reports/documents before signing
- Failure to detect/stop embezzlement of funds
- Failure to file annual report, failure to require withholding tax
- Failure to inspect nonprofit s books and records or keep informed of its activities
- Failure to verify facts in official documents before signing them and filing them
