The company president recommends to the board that NewCo hire Dewey, Cheatham, and Howe as its auditing
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The company president recommends to the board that NewCo hire Dewey, Cheatham, and Howe as its auditing firm. In the same meeting, the directors approve the firm.
One year later, it is revealed that the audits were fraudulent and that the president had been looting the company, resulting in several million dollars in losses.
Will these directors be protected by the business judgment rule?
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Related Book For
Business Law And Strategy
ISBN: 9780077614683
1st Edition
Authors: Sean Melvin, David Orozco, F E Guerra Pujol
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