11 Aug You are the Chairman of the Board of a well-known, publicly traded corporation.
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CASE STUDY
You are the Chairman of the Board of a well-known, publicly traded corporation. You are personally responsible for convincing the Board to fund a new product design that ultimately failed when it was placed on the market, causing extreme losses for the corporation. The shareholders now want to hold you personally responsible for all the losses to the corporation and have filed a derivative lawsuit in the name of the corporation in which you are the defendant. Please describe how you would defend yourself using the Business Judgment Rule. Create and describe any facts you think will support your position under this Rule. Limit your facts to only those that will support your position under this Rule and no others.
ACTION ITEMS
- Read the case study above.
- By the due date, submit your answers to the case study questions. Justify your answers.
- Write an introduction and conclusion in the answer
- Make sure you describe the following in your answer:
1 – What is the business Judgement Rule 2 – How you know or what proof you have that this person acting 100% loyal to the company- How you can proof they were acting in a good faith
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