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Friday, June 08, 2018 2:34:18 PM
"Candor in business discussion is important between officers, directors, and shareholders so that they may assess material risks and make informed decisions. Full and fair disclosure of material facts is essential before seeking board or stockholder approval of major corporate business transactions, such as a mergers with or acquisitions of other companies. As part of their duties of loyalty and care, officers and directors should also disclose any potential conflict of interest that may arise between their individual interests and those of the corporation."
https://www.nolo.com/legal-encyclopedia/fiduciary-responsibility-corporations.html
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