I commented in the past on a U. S. Supreme Court ruling on “honest-services” obligations and its effect on business executives who have a responsibility for operating a public company.
A CEO has to be an optimist to prevent the corporate roof from falling in; employees and customers fleeing, and a loss of jobs. An executive must retain legal leeway on comments and be given slack. A top executive who is not a cheerleader is doing a poor job.
Unfortunately, too many jurors and judges are not aware of this business fact.
The public cannot scream “fraud” at the drop of a hat every time disaster strikes a company. That is a ploy used by plaintiff lawyers doing what they do best. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
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