There is something to be said for the law of (perhaps) unintended consequences. Delaware Courts have in the eyes of some observers been busy spinning tales of liability for ill-defined “bad faith” conduct particularly on the part of CEO’s, and then backtracking to avoid finding any of the CEO’s guilty of bad faith. See James Kwak, “Corporate Political Contributions and Bad Faith, Whatever That Is,” posted on The Baseline Scenario Blog on June 24, 2014.
A recent article puts forward the argument that political contributions which are in the CEO’s interest but not in the corporation’s interest are made in bad faith. The article is discussed in U. Conn. Law Prof. James Kwak’s blog article, above.
Sometimes, to say again, there is something to be said for the law of unintended consequences.
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