Zenith steel company operates prosperous business

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Reference no: EM131789382

Zenith Steel Company operates a prosperous business. In January, Zenith’s CEO and president, Roe, who is also a member of the board of directors, was voted a $1 million bonus by the board of directors for valuable services he pro- vided to the company during the previous year. Roe received an annual salary of $850,000 from the company. Black, Inc., a minority shareholder in Zenith Steel Company, brings an appropriate action to enjoin the payment by the company of the $1 million bonus. Explain whether Black will succeed in its attempt.

Reference no: EM131789382

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