I can fully understand the need to file this 8-K t
Post# of 15624
(Total Views: 715)
Posted On: 05/06/2017 12:05:17 AM
Re: DigitalTradz #8639
I can fully understand the need to file this 8-K to "correct the disclosure regarding the circumstances of Mr. Turner's departure as CEO of OWC Israel". This is something that needed to be addressed in the initial 8-K. But now I am really puzzled as to why the company would not just have accepted a resignation unless they just wanted to be spiteful.
I'm not sure if the law is any different in Israel but in general it is much easier on the company if a person resigns than if they are terminated. When you terminate "for cause", not only do you have to make sure to document the reasons very carefully but you also open yourself to a possible legal challenge for wrongful dismissal. If mistakes are made in this process then there could be costly consequences in the case of a lawsuit or other legal claim.
In my view if a person resigns they have less of a legal standing should they try to file a lawsuit against the company for wrongful termination. I sure as hell hope that the company sought legal advice first. Why they didn't report this when they needed to is beyond me. All it does now is create doubt, uncertainty, and provide more fodder for controversy and negativity. Maybe someone here knows better and perhaps there is a silver lining in all of this that I'm not seeing. Thanks!
I'm not sure if the law is any different in Israel but in general it is much easier on the company if a person resigns than if they are terminated. When you terminate "for cause", not only do you have to make sure to document the reasons very carefully but you also open yourself to a possible legal challenge for wrongful dismissal. If mistakes are made in this process then there could be costly consequences in the case of a lawsuit or other legal claim.
In my view if a person resigns they have less of a legal standing should they try to file a lawsuit against the company for wrongful termination. I sure as hell hope that the company sought legal advice first. Why they didn't report this when they needed to is beyond me. All it does now is create doubt, uncertainty, and provide more fodder for controversy and negativity. Maybe someone here knows better and perhaps there is a silver lining in all of this that I'm not seeing. Thanks!
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