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On Friday, two public interest groups asked the attorney general of Delaware to revoke the charter of Massey Energy, a company they call a criminal enterprise. Full Story »
Posted by Chris Finnie
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Posted by Chris Finnie - Sep 23, 2011 - 3:02 PM PDT
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Chris Finnie - Sep 23, 2011 - 3:04 PM PDT
Interestingly, I heard a speaker two weeks who talked about the history of corporate charters. They had to be for a specific purpose, a limited time, and provide a public service. They had to pass the state legislature and be signed by the governor. And they could be revoked for failing to fulfill their charter or for illegal actions. Under these rules, the groups filing this action would certainly achieve their goals.
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