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Cooperatives, Securities Violations, and Advisor Liabilities: A Case Study

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  • Wiggins, Lucy Ann

Abstract

This article describes facts and actions leading to liability of a cooperative’s attorneys and accountants for securities law violations. The cooperative, through conflicts of interest and failure of those charged with conducting its affairs to meet their responsibilities, purchased a gasohol plant that sent the cooperative into bankruptcy. A “demand note” financing system was conducted in violation of securities laws. Directors, management, and professional advisors were held liable for losses suffered by the cooperative and investors.

Suggested Citation

  • Wiggins, Lucy Ann, 1987. "Cooperatives, Securities Violations, and Advisor Liabilities: A Case Study," Journal of Agricultural Cooperation, National Council of Farmer Cooperatives, vol. 2, pages 1-15.
    • Handle: RePEc:ags:joagco:46205
    DOI: 10.22004/ag.econ.46205
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    Keywords

    Agribusiness;

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