At bottom, the job of the members of the board of a corporation is to make sure that the corporation, within the bounds of the law, is acting in a manner which maximizes the value of the shares of the corporation. Act contrary to this duty, and suddenly you could be facing a shareholder suit asking why you breached your fiduciary duty to them. Most boards are filled with honorary stooges who rubber stamp the actions of the hired hands who run the corporation. In theory this is a dangerous activity, and I think Musk is about to make this theory a reality for the current denizens of the Twitter Board.
Yep
- Donald R. McClarey
Donald R. McClarey
Cradle Catholic. Active in the pro-life movement since 1973. Father of three, one in Heaven, and happily married for 43 years. Small town lawyer and amateur historian. Former president of the board of directors of the local crisis pregnancy center for a decade.
Totally agree. I would have to say that either the Board has no knowledgeable legal representation, or they are simply ignoring their attorneys. The latter would be, as Disney proves, par for the woke lefty course. Can’t wait for the lawsuit(s). 😂