Maurice Tutor

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About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 408 Weeks Ago, 4 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 03 Oct 2017 My Price 7.00

MCG Capital Corporation

In 1998, after working at two banks for about 10 years, Bryan J. Mitchell helped found MCG Capital Corporation, a venture capital firm that invested in the media, communications, and technology sectors. MCG went public in 2001, and Mitchell served as its CEO and chair of the board. Various documents filed with the SEC stated that Mitchell had “earned a B.A. in economics from Syracuse University.”In fact, he attended Syracuse for only three years and did not graduate. After being pressured by a journalist, Mitchell disclosed the misrepresentation to the MCG board. The same day, the company issued a press release correcting the statement. The board subsequently stripped Mitchell of his title as chair of the board and made him repay certain bonuses and loans.

The press responded negatively to “another CEO that lied about his resume” and speculated about “what else might not be right.” On the day the press release was issued, MCG’s stock price dropped from $11.85 per share to $8.40, although it fully recovered within a month.

Shareholders sued, alleging that the misrepresentation violated Section 11 of the 1933 Act, Section 10(b) of the 1934 Act, and Rule 10(b)-5. Was Mitchell’s lie about having a college degree material? If you had been a member of the MCG board, would you have been comfortable keeping Mitchell as CEO?

Answers

Maurice Tutor
(5)
Status NEW Posted 03 Oct 2017 10:10 PM My Price 7.00

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