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Gold/Mining/Energy : Mongolia Gold Resources
MGR 21.04-1.6%Nov 20 3:58 PM EST
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To: Dave R. Webb who wrote (3327)4/9/1999 6:54:00 AM
From: Phil Jones  Read Replies (2) of 4066
 
Dave, I agree with your comment that each director is responsible for his own actions - and that other directors aren't liable for what Mr. Kennedy did. But with respect to Mr. Kennedy, if he knew beforehand (as your earlier post suggests) that buying/selling MGR shares through the other company he controlled might be a problem, why did he do it? Surely the discretionary course, when there's any question raised of a possible problem, is NOT to do the buying/selling through that other company. And then the B.C. Securities Commission gave him a period to take some action to resolve what they considered a problem -- and Mr. Kennedy didn't choose to resolve the problem promptly. If he had done what the BCSC had asked, this matter would not have become publicized. It does appear to be a matter of poor judgment on Mr. Kennedy's part.
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