Would your answer in relation to lucy be different

Reference no: EM133578027

Jack Lee is the managing director of Noveltech Ltd (Noveltech), a small listed biotechnology company based in Canberra. Carole Smith is an executive director who heads up the company's research division, and Lucy Grey is a non-executive director.

One of Noveltech's new medicines for dementia, Miracledrug, has been associated with rare but serious side effects. Noveltech's research department has been investigating the issue, but has not been able to discover the mechanism by which Miracledrug could cause these side effects. However, it has been able to rule out other known causes for the side effects in affected patients.

Mention of a possible link between Miracledrug and the side effects appears in the health pages of some newspapers. Jack asks Carole to draft ASX announcement on this issue. The following draft announcement and copies of the media coverage are included in the package of materials at the next board meeting, listed under the heading 'Items for noting'.

Noveltech's research has revealed no link between Miracledrug and serious adverse side effects. It continues to be safe for physicians to prescribe and remains the best available treatment for dementia.

There is no active discussion of the announcement at the board meeting and, after the meeting, Jack instructs the company secretary to dispatch the announcement to ASX.

Answer question 1 below if you are completing this assessment as an individual assignment.

Answer Questions both 1 and 2 below if you are completing this assessment as a group assignment.

Has Jack, Carole and Lucy breached any directors' duties under the Corporations Act? Give reasons for you answer

2 Would your answer in relation to Lucy be different if she had a degree in pharmacology?

Reference no: EM133578027

Questions Cloud

Compare and contrast the common law method : Compare and contrast the common law method of regulation with direct regulation. From a law and economics perspective, when is direct regulation most likely

What, owner and time estimate in assessment of risk factor : what, owner and time estimate in the assessment of risk factor affecting road construction in the Philippines

What are the most important issues in interpreting : What are the most important issues in interpreting the Constitution to Scalia and Breyer? Given the whole of the conversation, with whom to do you tend to agree

Provide your presentation to your team as per instructions : provide your presentation to your team as per the instructions above. During your presentation, your assessor will be looking to see that you established

Would your answer in relation to lucy be different : Has Jack, Carole and Lucy breached any directors' duties under the Corporations Act - Would your answer in relation to Lucy be different if she had a degree

Complete clinical manifestations and signs and symptoms : Complete clinical manifestations and signs and symptoms for secondary diagnosis as above.

Develop algorithms without any legal oversight : Outline the pros and cons of allowing developers to develop algorithms without any legal oversight What are the inherent risks or challenges that come

How has your course work shaped your ability to practice : How has your course work shaped your ability to practice in an agency? Why should you be chosen as an intern above and beyond anyone else? What have you done

Identify six key areas of leguslation : Identify six key areas of leguslation that impact on student behaviour support strategies used in schools.For each of the six areas briefly

User Account

All Pages