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Are employees or shareholders of a company liable for the company doing something illegal?

If I'm an employee of a company, and the company is caught doing something illegal (tax fraud), or caught up in a civil lawsuit, what is my liability as an employee and shareholder (we have stock options). I have no such prior knowledge of anything like this going on within the company; however, there are recent rumors going around and I'd like to ensure that as a standard employee with stock options (technically an "owner" of the company), that I'm not liable if someone on the management team did something stupid.

Public Comments

1. Well I would assume on this one, if you had nothing to do with the people who did commit a crime, then I see no reason why you would be liable. As for the stocks, (this is just my opinion) I would personally sell and high-tail out of there.