I agree with Elizabeth's excellent post. I wanted to add one additional comment on her point 1. I would hope that, after its mistake in Van Gorkom, the court now recognizes how wrong it would be to insist on excessive procedures, including requiring a meeting in order to satisfy due care duties. And clearly that shouldn't matter for good faith purposes under 102(b)(7). In fact, this point might give the court an extra incentive to rely on good faith.
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