kaal:claim:kaal-2013-acomparativeperspectiveo-006

Losses alone are not sufficient to hold directors personally liable for taking risks that lead to those losses, because risk is inherent in maximizing shareholder value.

Source quote, verbatim

Losses alone were not sufficient to hold directors personally liable for taking risks that lead to losses because risk is inherent in maximizing shareholder value.

From

Kaal, A Comparative Perspective on the Limitations of the Duty of Oversight – A Comment on Lisa Fairfax (2013), Introduction, discussing In re Citigroup, p. 5
· source PDF

Cite as

Kaal, A Comparative Perspective on the Limitations of the Duty of Oversight – A Comment on Lisa Fairfax (2013)

Holds when

Delaware law
risk taking that produces corporate losses

Classification

conditionsupport: evidencedcorporate-governancelaw-and-legal-systemsrisk-and-incentives

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