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Continuing Delaware's preference against holding directors personally liable, Chancellor Strine dismissed the special committee directors from the case.
"As long term investors, we believe in the importance of holding directors to account," said Standard Life's Jonathan Cobb.
A far better approach for holding directors accountable, according to a significant body of academic research, is to make them stand for election annually.
Mr. Giddens raised the notion of holding directors and senior officers of the company liable for ensuring that proper controls are in place to keep client money safeguarded.
Mr. Giddens also suggested holding directors and officers liable for maintaining controls on customer money, and getting rid of loopholes that enabled MF Global to tap customer money by overestimating overseas customer funds.
An audit and remuneration committee is normally – including at the Premier League's own clubs – constituted of non-executive directors; a system, itself much criticised as ineffectual, aimed at holding directors' pay to some sort of independent account.
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It was a desperate time for the employees of construction companies because a lot of those individuals that were holding director positions were now doing labouring jobs to pay the mortgage.
It has yet to find a way to hold directors accountable for their bad decisions.
In Taro's case, the provision is being used to hold directors accountable.
Without transparency, shareholders cannot hold directors and executives accountable when they make political expenditures that depart from investors' interests.
Under the new structure, shareholders have the right to hold directors and officers accountable to this broader mission.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com