Legal problems, page-5

Page 11 of the 2017 PPY Annual Report describes the directors' indemnification insurance.

The interesting part is that the directors are covered and defended against civil or criminal proceedings, except for a willful breach of duty by the officers or the improper use by the officers of their position or of information to gain advantage for themselves or someone else or to cause detriment to the Company.

Now I wonder where AB is going with this? All exceptiosn could potentially apply.

If he is suing for willful breach, then they won't be defended by their insurer, but then nor will AB get his damages and costs; unless the directors are wealthy.

Very exciting.

We'll have to wait and see and they'll have to raise more than a few thou from a few options.