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LawTalk
LawTalk, Attorney
Category: Employment Law
Satisfied Customers: 35395
Experience:  30 years legal experience and I keep current in Employment Law through regular continuing education.
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In the due diligence process asset purchase agreement, my

Customer Question

In the due diligence process for an asset purchase agreement, my boss/owner has been given the proposed buyer false information regarding asset valuation and financial statement values. I have been the one preparing the schedules and falsifying the documents (based on his direction). Can I be held liable for presenting wrong information if after the sale, the purchasing company finds out that the numbers were false? Is this falsifying information to "seal the deal" and make the company look better, illegal, or just unethical. (i.e. this is a small privately held corporation).
JA: Because employment law varies from place to place, can you tell me what state this is in?
Customer: Wisconsin
JA: Have you talked to a lawyer yet?
Customer: No.
JA: Anything else you think the lawyer should know?
Customer: Possibly, but I wouldn't know what.
Submitted: 4 months ago.
Category: Employment Law
Expert:  LawTalk replied 4 months ago.

Good morning,

I'm Doug, and I'm very sorry to hear of your situation. My goal is to provide you with excellent service today.

What your boss is demanding that you do is legally known as forgery and it is most likely a felony based on the probable value of the thing being offered for sale.

Not only could you be sued civilly of the sale goes through, but just the preparation of the falsified documents constitutes a present crime for which you can be arrested, charged and if convicted, you could be imprisoned. You could also be charged with conspiracy to defraud---another felony in this instance.

You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.

I hope that I have been able to fully answer your question. As I am not an employee of JustAnswer, please be so kind as to rate my service to you. That is the only way I am compensated for assisting you. Thank you in advance.

I wish you and yours the best in 2016,

Doug

Customer: replied 4 months ago.
Your response is very different from the other lawyers. He stated that because I was an agent of the company that the principal which is my boss/owner would be liable.
Expert:  LawTalk replied 4 months ago.

Good morning,

I am sorry but I do not read other posts when I give an opinion, and if I provided you with a different answer, it is because the facts you related justify that answer under the law. I have been a licensed attorney for more than 30 years and I do know what I am talking about.

Yes, the boss will be civilly liable for the actions of an employee. That is correct, but you have tremendous exposure both civilly (because you are breaking the law and not simply following the instructions of your employer which are otherwise legal), as well a criminally. The illegality of your actions, and those of your boss, is what make this much more different than the average employee just doing what the boss says for you to do.

You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.

Please remember to rate my service to you so that I can be compensated for helping you. Thank you in advance.

I wish you and yours the best in 2016,

Doug

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