Which of the Following Was the Result on Appeal in McCann

question 57

Multiple Choice

Which of the following was the result on appeal in McCann v. McCann, the case in the text involving whether a corporation engaged in a "squeeze-out" as to a minority shareholder?

• A) That the business judgment rule does not apply in such situations and that so long as there is any business reason for a transaction, a corporation cannot be found liable for a "squeeze-out" resulting in dismissal of the plaintiff's claims.
• B) That while the business judgment rule applied, the corporation submitted sufficient evidence to establish legitimate reasons for all questioned transactions and that it, therefore, could not be held liable to the complaining minority shareholder.
• C) That a material question of fact as to whether the directors could be found to have engaged in a "squeeze-out" of the beneficiary, causing him harm beyond every other shareholder, and that the case would be remanded for further proceedings.
• D) That because he owned over 20% of the stock, the failure to grant the complaining minority shareholder a seat on the board in and of itself was sufficient under the facts presented to establish that the corporation was guilty of behavior constituting an illegal "squeeze-out."
• E) That the failure to declare a dividend when sufficient assets existed with which to do so in and of itself was sufficient under the facts presented to establish that the corporation was guilty of behavior constituting an illegal "squeeze-out."

Recognize the importance of networking in career development and how to leverage it.

Identify the financial benefits associated with different levels of education and career decisions.

Understand how to effectively communicate interest in a job position through professional documents.

Realize the value of different employment strategies for gaining relevant experience.

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Definitions:

Luddites

Originally, a group of early 19th-century English workers who destroyed machinery, especially in cotton and woolen mills, that they believed threatened their jobs.

Mode of Production

An economic concept referring to the combination of the means of labor (tools, factories, land, etc.) and the method of labor (how work is organized and carried out) to produce goods and services.

Craftsmen

Skilled individuals who create items by hand, often with traditional techniques, in various trades such as carpentry, blacksmithing, and pottery.

Prussia

A historically significant state in central Europe, known for its military efficiency and unification role in the creation of the German Empire in the late 19th century.