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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.

Additional descreption for more info:You are the Chairman of the Board of Directors of a well-known and publicly traded company. You are personally responsible for persuading the board of directors to fund the design of a new product that ultimately failed when it was brought to market, causing huge losses to the company. The shareholders now want to hold you personally liable for all losses incurred by the company and have filed a derivative lawsuit in the name of the company you are claiming against. Please describe how you would defend yourself using the business judgment rule. Create and describe any facts that you think will support your position under this rule. Limit your facts to those that will only support your position under this rule. —————– In short: The business rule rule states that managers “unless otherwise indicated” always make decisions in the interest of the company, and also the rule is based that they will not always make the best decisions. In general, in the long run, the com