Rebutted by sufficient evidence proffered by the plaintiff

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Reference no: EM132292401

1. Because of the potential tension between boards of directors, officers, and shareholders regarding expenditures by corporations from the corporate funds on corporate social responsibility projects, etc., some jurisdictions have, by statute, allowed the formation of a new type of corporation in which specific matters about such expenditures are often set out in the Articles of Incorporation and other corporate documents. What type of corporation is this new corporation?

2. If the Business Judgment Rule, which is a rebuttable presumption, is rebutted by sufficient evidence proffered by the plaintiff of either a conflict of interest or that a board did not consider all that it should have considered when it made a decision, what is the standard of liability imposed on a board i.e., if the Business Judgement Rule no longer applies, what level of culpability will have to be shown before the board, individually or collectively, will be held liable for their decision:

Reference no: EM132292401

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