If a publisher of a web site were to obtain an article from an article directory site and publish it on their web site, complying with all of the usual terms and conditions stated on an article directory site, does this create any exposure or risk for the publisher regarding copyright or other rights for the author of that article? What if all of the publishers pages of a web site have a copyright at the bottom, is it proper to still place the publishers copyright on a page where an article by another author appears?
No it isn't proper, if the copyright claims that all content is copyright of said publisher. Definitely grey area there, but a copyright is a no-no, just because they let use it doesn't mean you can claim ownership.