According to the Delaware Supreme Court, when does the role of a director shift

Question

According to the Delaware Supreme Court, when does the role of a director shift from being a "protector of the corporate bastion" to being an "auctioneer" charged with obtaining the highest realizable short-term value for the shareholders? Answer Only when the breakup of the corporation or a change of control has become inevitable Whenever a yearly loss is reflected At the point that a yearly loss has been reflected for three straight years When the CEO and the board of directors are in disagreement, and there has also been a yearly loss reflected for three straight years

Explanation / Answer

Only when the breakup of the corp or a change of control has become inevitable

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