First Global Data Ltd FGBDF

RE:A class action should be brought against the

[NYX2017]

Totally agree! We can't let them get away with this like that!!

shooter300 wrote:

Andre Itwaru, former CEO & Chairman of the Board

All the former directors of the board, personally, who had a fiduciary duty to shareholders prior to, during and subsequent to the company’s representation of financial statements, including:

Nayeem Alli, former Chief Financial Officer

As well as all the others who owed a duty of care to shareholders but slinked away.

“A corporation's directors and officers cannot avoid liability on the grounds that they did not know what the corporation was doing.”

The "Audit Commitee."

The current directors of the board also owe us a duty of care. They must keep us shareholders informed and are not doing so.

Perhaps, some or all have Director’s and Officer’s Insurance, D&O.

As well as the "auditor" of the financial statements: Fareed Sheik & Co.

FGD should have claimed professional negligence against their accounting firm who should also have Errors and Omissions Insurance, E&O. 
 
From FGD's financial statements:

MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL REPORTING

"The accompanying annual consolidated financial statements of First Global Data Limited (“FGDL” or the "Company") have been prepared by management in accordance with International Financial Reporting Standards and contain estimates based on management’s judgment. Management maintains an appropriate system of internal controls to provide assurance that transactions are authorized, assets safeguarded and proper records maintained.

The Audit Committee of the Board of Directors has reviewed with the Company’s independent auditors scope and results of the annual audit and the financial statements and related financial reporting matters prior to submitting the financial statements to the Board for approval.

The Company’s independent auditors, Fareed Sheik & Co are appointed by the shareholders to conduct an audit in accordance with Canadian auditing standards and their report follows."