Elizabeth is the Chief Executive Officer of Theranos, Inc.,…
Questions
Elizаbeth is the Chief Executive Officer оf Therаnоs, Inc., а clоsely held Delaware Corporation with total assets in the amount of $20 Billion. She is also chairman of the board of directors. In January 2017, she approves the sale of blood testing equipment belonging to the corporation to David for a price of $1,000,000. She did not seek board approval Elizabeth assumed the equipment was worth $500,000, but never made any effort to verify this assumption. In fact, the true value of the equipment was $10,000,000—a fact that any lab technician could have told the corporation and that Elizabeth could have learned from any catalog of medical equipment. The certificate of incorporation of Theranos, Inc. contains an exculpation clause that complies with 102(b)(7). Which, if any, of the following statements is correct? Apply the DGCL to this question.
Elizаbeth is the Chief Executive Officer оf Therаnоs, Inc., а clоsely held Delaware Corporation with total assets in the amount of $20 Billion. She is also chairman of the board of directors. In January 2017, she approves the sale of blood testing equipment belonging to the corporation to David for a price of $1,000,000. She did not seek board approval Elizabeth assumed the equipment was worth $500,000, but never made any effort to verify this assumption. In fact, the true value of the equipment was $10,000,000—a fact that any lab technician could have told the corporation and that Elizabeth could have learned from any catalog of medical equipment. The certificate of incorporation of Theranos, Inc. contains an exculpation clause that complies with 102(b)(7). Which, if any, of the following statements is correct? Apply the DGCL to this question.
Elizаbeth is the Chief Executive Officer оf Therаnоs, Inc., а clоsely held Delaware Corporation with total assets in the amount of $20 Billion. She is also chairman of the board of directors. In January 2017, she approves the sale of blood testing equipment belonging to the corporation to David for a price of $1,000,000. She did not seek board approval Elizabeth assumed the equipment was worth $500,000, but never made any effort to verify this assumption. In fact, the true value of the equipment was $10,000,000—a fact that any lab technician could have told the corporation and that Elizabeth could have learned from any catalog of medical equipment. The certificate of incorporation of Theranos, Inc. contains an exculpation clause that complies with 102(b)(7). Which, if any, of the following statements is correct? Apply the DGCL to this question.
Elizаbeth is the Chief Executive Officer оf Therаnоs, Inc., а clоsely held Delaware Corporation with total assets in the amount of $20 Billion. She is also chairman of the board of directors. In January 2017, she approves the sale of blood testing equipment belonging to the corporation to David for a price of $1,000,000. She did not seek board approval Elizabeth assumed the equipment was worth $500,000, but never made any effort to verify this assumption. In fact, the true value of the equipment was $10,000,000—a fact that any lab technician could have told the corporation and that Elizabeth could have learned from any catalog of medical equipment. The certificate of incorporation of Theranos, Inc. contains an exculpation clause that complies with 102(b)(7). Which, if any, of the following statements is correct? Apply the DGCL to this question.
Elizаbeth is the Chief Executive Officer оf Therаnоs, Inc., а clоsely held Delaware Corporation with total assets in the amount of $20 Billion. She is also chairman of the board of directors. In January 2017, she approves the sale of blood testing equipment belonging to the corporation to David for a price of $1,000,000. She did not seek board approval Elizabeth assumed the equipment was worth $500,000, but never made any effort to verify this assumption. In fact, the true value of the equipment was $10,000,000—a fact that any lab technician could have told the corporation and that Elizabeth could have learned from any catalog of medical equipment. The certificate of incorporation of Theranos, Inc. contains an exculpation clause that complies with 102(b)(7). Which, if any, of the following statements is correct? Apply the DGCL to this question.
Elizаbeth is the Chief Executive Officer оf Therаnоs, Inc., а clоsely held Delaware Corporation with total assets in the amount of $20 Billion. She is also chairman of the board of directors. In January 2017, she approves the sale of blood testing equipment belonging to the corporation to David for a price of $1,000,000. She did not seek board approval Elizabeth assumed the equipment was worth $500,000, but never made any effort to verify this assumption. In fact, the true value of the equipment was $10,000,000—a fact that any lab technician could have told the corporation and that Elizabeth could have learned from any catalog of medical equipment. The certificate of incorporation of Theranos, Inc. contains an exculpation clause that complies with 102(b)(7). Which, if any, of the following statements is correct? Apply the DGCL to this question.
Elizаbeth is the Chief Executive Officer оf Therаnоs, Inc., а clоsely held Delaware Corporation with total assets in the amount of $20 Billion. She is also chairman of the board of directors. In January 2017, she approves the sale of blood testing equipment belonging to the corporation to David for a price of $1,000,000. She did not seek board approval Elizabeth assumed the equipment was worth $500,000, but never made any effort to verify this assumption. In fact, the true value of the equipment was $10,000,000—a fact that any lab technician could have told the corporation and that Elizabeth could have learned from any catalog of medical equipment. The certificate of incorporation of Theranos, Inc. contains an exculpation clause that complies with 102(b)(7). Which, if any, of the following statements is correct? Apply the DGCL to this question.
Elizаbeth is the Chief Executive Officer оf Therаnоs, Inc., а clоsely held Delaware Corporation with total assets in the amount of $20 Billion. She is also chairman of the board of directors. In January 2017, she approves the sale of blood testing equipment belonging to the corporation to David for a price of $1,000,000. She did not seek board approval Elizabeth assumed the equipment was worth $500,000, but never made any effort to verify this assumption. In fact, the true value of the equipment was $10,000,000—a fact that any lab technician could have told the corporation and that Elizabeth could have learned from any catalog of medical equipment. The certificate of incorporation of Theranos, Inc. contains an exculpation clause that complies with 102(b)(7). Which, if any, of the following statements is correct? Apply the DGCL to this question.