Lawyer Up

[ClassOf19]

Simple message to everyone on the board and Mr. Watson: Time to Lawyer Up; Congrats.

[Not Surprised]

Given that the Academy’s Attorney is married to a teacher at the school, this will be interesting. Conflict of interest much?

• This reply was modified 8 years, 3 months ago by savetheacademy.

[SDHeights]

Directors of corporations, in fulfilling their managerial responsibilities, are charged with certain fiduciary duties. The primary duties are the duty of care and the duty of loyalty.

Duty of Loyalty: As the Delaware Supreme Court explained in Guth v. Loft, 5 A.2d 503, 510 (Del. 1939): “Corporate officers and directors are not permitted to use their position of trust and confidence to further their private interests. . . . ”

Where exactly has the ~$150M gone? Does anyone actually know? Are there bylaws that have been violated – I would expect so.

[Ulysses]

Dear Trustees,

Every year we employees are required to read the Faculty and Staff Handbook and sign our names certifying that we understand its provisions.

Please note this important sentence on p. 46: “The IRS as well as state regulatory and tax officials view the operations of the Academy as a public trust, which is subject to scrutiny by and accountable to such governmental authorities as well as to members of the public.”

Now, I ask you: given your unwillingness to answer all the questions in Mr. Hibbett’s letters, and given the obfuscation and misdirection in those answers you have given, how well do you feel you have held yourself “accountable…to members of the public”?

Our contract letters state explicitly that if we employees are found not complying with the stipulations of the Handbook, our employment may be terminated.

How about you? Isn’t it only reasonable for the community to insist that YOU be terminated in your roles as trustees if you fail to follow the stipulations of the Handbook?

[Author]

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