Why is the business judgment rule so important to both directors and shareholders? What would be some possible consequences if directors could not rely on the business judgment rule? Is this good public policy? Why or why not? Can you envision any circumstances under which an officer or director could be found to be in breach of a fiduciary duty owed to the corporation and its shareholders and still be protected by the Business Judgment Rule from personal liability? Why or why not?

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Answer Certainly Lets delve deeper into the concepts surrounding the business judgment rule and its implications for directors shareholders and public ... View the full answer