In the Late 1960s a Shareholder of the Company That

question 45

Multiple Choice

In the late 1960s a shareholder of the company that owned the Chicago baseball team sued the company because the directors refused to install lights in Wrigley Field.The court decided that the directors:

• A) had a rational purpose for not installing lights and were not liable for doing anything improper.
• B) were not protected by the business judgment rule.
• C) had not acted with any rational purpose and were liable to its shareholders for damages caused by their actions.
• D) had the right to make decisions for the team without any concern for the desires of the shareholders.

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