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58Sunliner

(5,538 posts)
1. What is this bill trying to do? It is very vague, but give companies a shield from liability?
Wed Mar 19, 2025, 08:38 AM
Mar 19

"certain acts or transactions involving such directors or officers will be protected if approved or ratified by a majority of the disinterested directors or by a majority of the votes cast by the disinterested stockholders entitled to vote thereon, in each case upon disclosure or in full knowledge of the material facts giving rise to the conflict or potential conflict. In addition, the amendments define what parties constitute a controlling stockholder or control group and provide safe harbor procedures that can be followed to insulate from challenge specified acts or transactions from which a controlling stockholder or control group receives a unique benefit."

WTF is this? Safe harbor from what?? Discrimination?

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