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Case Study 2-Cleveland Browns

Cases for Analysis and Case Studies are found in the textbook at the end of chapters. One or more Cases for Analysis will be assigned per assignment based on the discretion of the professor. Case Studies are located at the end of major sections in the textbook. Cases for Analysis utilize questions provided in the textbook. Case Studies involve customized questions provided by your instructor. Cases for Analysis typically involve a short synopsis of a legal case and require you to answer a single question and to provide reasons in support of your answer. Case Studies are more involved with detailed analyses of legal decisions. You may be required to answer more than a single question in this assignment. Requirements: Answers to questions must be submitted in writing using Microsoft Word. Your submissions must be double spaced using Times New Roman font and 12 point type. One inch margins at the top, bottom and both sides of every page. Answers to questions in Case Studies are limited to no more than 400 words per answer. Include your name and the name of your professor at the top left of the first page. Assignment: Carefully read the Cleveland Browns Case Study beginning on page 703 of your textbook. Then respond to and answer the following questions: This case study involves an interrelated web of corporate entities and the ownership interests that bind the strands of that web. Recall that corporate directors owe duties to their owners (shareholders). In the case of larger publicly traded corporations, these duties may be owed to tens of thousands of shareholders. On the other hand, in the case of smaller closely held entities, the duties are more intimate and not as dispersed. Yet these directors nevertheless owe duties to their owners, even minority shareholders. Here we have two separate entities: The Cleveland Browns Football Co., Inc. and Cleveland Stadium Corporation (CSC). The former owns and operates the Browns NFL franchise and the latter subleases Cleveland Stadium to the Browns. Arthur Modell is a director and the majority shareholder for each. Robert Gries is a director and a "minority shareholder" for each. As you now know, Mr. Gries filed a derivative lawsuit against the Browns as its minority shareholder. The book goes into much detail about the defendant directors' attempt to invoke the protection of the "business judgment rule." Briefly describe why the Ohio Supreme rejected this attempt and instead upheld the trial court's decision to apply the "fairness rule" in assessing the actions and decisions of the Browns' directors. Define the Business Judgment Rule and the Fairness Rule. From your text bring in cases that used either rule. Briefly describe why the Ohio Supreme rejected this attempt and instead upheld the trial court's decision to apply the "fairness rule" in assessing the actions and decisions of the Browns' directors. Explain briefly how applying the Business Judgment Rule may change the case outcome. In the final analysis, Gries brings out a specific allegation against Modell. Explain the benefits of the transaction to the major shareholders and minority shareholders and if or how the harm outweighs the benefits in the transaction for the minor shareholders. Then discuss in 200 words or less if you agree and why or why not with Greig' allegations that the entire set of facts is a scheme by Modell to pay off his outstanding debts by raiding the Browns' corporate treasury.
Cases for Analysis and Case Studies are found in the textbook at the end of chapters. One or more Cases for Analysis will be assigned per assignment based on the discretion of the professor. Case Studies are located at the end of major sections in the textbook. Cases for Analysis utilize questions provided in the textbook. Case Studies involve customized questions provided by your instructor.
Assignment ID
640893
Discipline
CREATED ON
27 August 2018
COMPLETED ON
30 August 2018
Price
$40
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27 August 2018
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27 August 2018
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27 August 2018
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27 August 2018
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