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Have the directors violated their duty to exercise care

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Reference no: EM132781103

Problem 1: The directors of XYZ company approve a resolution to invest the company's money in a new business venture. Several months after the company has made this investment, the company has lost money on it. And in hindsight, it is now clear that investing in the new business venture was a bad idea. The shareholders now blame the directors for their decision. Have the directors violated their duty to exercise care and diligence under Section 180(1) of the Corporations Act 2001 (Cth)? Explain your answer.

Reference no: EM132781103

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