The high stakes of any merger or acquisition deal can quickly cloud the best business judgment of many corporate directors, leading them to make decisions that may benefit them but anger other stakeholders in the company.
Boards of directors, however, have a fiduciary duty to maintain their objectivity and act in the best interest of the company and its shareholders. In fact, shareholders are scrutinizing directors’ actions more than ever looking for errors in judgment. In fact, Cornerstone Research has reported that shareholders have filed lawsuits in more than 90 percent of mergers and acquisitions valued at $100 million or more for the past four years.
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