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No, Tom is incorrect. They can very much "pierce the corporate veil" if he hasn't followed the mandated corporate formalities. Too, the corporate veil can also be pierced when the corporation is under capitalized - that means basically they don't have insurance and/or can't pay for their negligence.
Predicting the outcome in this instance would be relatively simple - they would allow the piercing of the corporate veil based upon a number of issues - lack of following the corporate formalities AND lack of adequate capitalization.