The piercing the corporate veil doctrine is also called the alter ego doctrine because it may be used when the corporation becomes the alter ego of the shareholder.

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The statement is true. The piercing the corporate veil doctrine is also known as the alter ego doctrine because it allows the court to disregard the separate legal personality of the corporation when the shareholder has treated the corporation as his alter ego, leading to injustice or fraud.

The Piercing the Corporate Veil Doctrine Is Also Called the Alter