Tax,
Business Law
Apr. 28, 2025
Appellate court holds executives personally liable for their company's wrong action
The 4th District Court of Appeal affirmed a $538,890 award against FemtoMetrix executives for filing a fraudulent tax return, rejecting their claim that only the company was liable.
The 4th District Court of Appeal held that top executives of a semiconductor firm could be held personally liable for their company filing a fraudulent tax return, affirming a lower court ruling.
The court affirmed a $538,890 award including actual damages and fees against FemtoMetrix Inc. and its executives, rejecting arguments by CEO Alon Raphael and CFO Tyler Rubin that only the company, not them as individuals, should be held liable under Internal Revenue Code Section 7434. <...
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