This misguided meme comes up like clockwork every two weeks. The actual legal standard is much closer to “don’t rip off the company” than “you must grab onto e

This misguided meme comes up like clockwork every two weeks. The actual legal standard is much closer to “don’t rip off the company” than “you must grab onto every penny anywhere near your grasp.” This thread has a bunch of references to court cases: https://news.ycombinator.com/item?id=23393674 https://news.ycombinator.com/item?id=23393674 The common theme is that the directors of a company have incredible latitude to run it as they please, and courts won’t second-guess business decisions as long as they are vaguely plausible.