Discussion
Discussion 1 In your main posting, address the following: Compare the roles and responsibilities of directors and officers in a corporation, including their decision-making authority, governance duties, and oversight functions. Analyze a real-world case where the actions of directors or officers led to legal or financial challenges for the company. Propose best practices for directors and officers to manage their responsibilities and minimize legal risks. Discussion 2 In your main posting, address the following: Describe two key accounting requirements imposed by the Sarbanes-Oxley Act (SOX). Assess how these requirements have impacted corporate governance and financial reporting practices. Evaluate whether these measures effectively prevent corporate fraud and improve transparency. Assignment Prior to beginning work on this assignment, read Chapters 40, 41, 42, and 47 of your textbook Business Law: Text and Cases. Review the following case procedures: Case 40-8: Business Judgment Rule Case 41-1: Corporate Merger Case 42-3: Insider Trading Case 47-1: The Ultramares Rule Address the following key points in your paper: Determine whether a court should accept Patterson’s argument that all his actions were covered by the business judgment rule. (Case 40-8)Explain the rights of Alir beginning with the notice of the proposed merger. (Case 41-1) Evaluate whether insider trading occurred along with any potential sanctions and liability. (Case 42-3) Analyze the consequences of Patterson’s failure to follow GAAP and whether Tucker can recover damages from Patterson. (Case 47-1)