Assignment Task: Corporation Law
FACTS: As an independent member of the board of directors of Corpsfun, a large tech corporation, you created an internal memo regarding potential sales of Apple shares. You considered strategic alternatives relative to shareholder duties and internally recommended a course of action. You accepted an offer from Wowbank company than Apple company. However, the market did not react as positively as hoped. And then, between signing and closing, you had to figure out how to address a major data breach that your CDPO had discovered.
Although Wowbank company does try to get out of the deal once the information about the data breach reaches the media, you work with them to negotiate a reduction in the purchase price. The data breach costs you $500 million in the company's value. Once Wowbank completes the acquisition, they dismiss much of the current management.
QUESTIONS:
Q1. Overall, how do you assess your role in the deal as a director? What would you have done differently?
Q2. What is the ideal role a director should play in today's economy and the modern corporation?