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Source Directors and Officers Wisconsin Bar Exam Topic Index Matched to this deck.

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A derivative complaint alleges that directors of a corporation approved a risky inventory program after a short meeting. The directors argue that they cannot be liable because the program might have succeeded.
Which statement most accurately states the director duty-of-care standard?

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Directors satisfy the duty of care whenever the corporation's stock price later increases. Directors are insurers of every business decision that later proves costly. Directors must act in good faith, in a manner they believe is in the corporation's best interests, and with the care, including reasonable inquiry, that an ordinarily prudent person in a like position would use. Directors owe no duty of care if they are unpaid.

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