tag:blogger.com,1999:blog-1194375569044391746.post945493680082251064..comments2024-03-28T05:30:09.322-04:00Comments on Corporate Justice Blog: Venmo Under Investigation by FTCSteven Ramirezhttp://www.blogger.com/profile/16741346526253732489noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1194375569044391746.post-2589407274030488222016-05-14T16:00:06.651-04:002016-05-14T16:00:06.651-04:00Depending on the outcome of this FTC investigation...Depending on the outcome of this FTC investigation, it will be interesting to see if any derivative actions are filed to recover potential penalties. If it is determined that the board either intentionally approved these alleged practices or failed to have appropriate monitoring procedures then there is likely a viable claim. I imagine there were many attorneys who ran out to get their shareholder-plaintiff lined up when this news came out. Although that practice has its downsides, if the only penalty directors have to pay is a fine that comes out of the company, and not their own pockets, then the deceptive or unfair practices won't have an end. Derivative actions are the best tool a shareholder has for keeping the directors accountable.<br /><br />Ryan HoldenRyan Holdennoreply@blogger.com