Besides the class action lawsuits, is there any precedent for suing an executive? I’m assuming not in corporate USA but why not ask
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I’d participate in a class action against Chip. He is responsible for where this company ended up. Perhaps, by showing examples of mismanagement it can be done?
In addition to piercing actions, CEOs can also face personal liability when sued directly by private litigants. These lawsuits can run the gamut from fraud claims asserted by vendors to harassment claims asserted by current and former employees.
Chip can be sued individually. If it could be proved that he directly lied and inflated the health of the company. This would be outside of the lawsuits that are going on now.
Sued for what exactly?
I'm not sure a lawsuit can be brought against an individual executive. Employment is at will at 2U at the end of the day.
Don't get me wrong, I think what the executives did was reckless and so many great people are affected by this horribly. It is outrageous. I just don't see a way that he can be sued.