They have a duty to they shareholders to not squander money, correct? That is what I was addressing.
Also, individually they have duties to not commit crimes (like conspiracy to defraud, or whatever).
If there is evidence they conspired with someone to commit securities fraud, even if it had nothing to do with GM, then regardless of their duties to GM, then they can go to jail for that.
If they knowingly were irresponsible/negligent as officers of the company in how they approved deals, they could be fired or sued, depending on how blatant it is.
Since it didn’t seem to hurt GM’s bottom line, seems like the latter is unlikely.
Also, individually they have duties to not commit crimes (like conspiracy to defraud, or whatever).
If there is evidence they conspired with someone to commit securities fraud, even if it had nothing to do with GM, then regardless of their duties to GM, then they can go to jail for that.
If they knowingly were irresponsible/negligent as officers of the company in how they approved deals, they could be fired or sued, depending on how blatant it is.
Since it didn’t seem to hurt GM’s bottom line, seems like the latter is unlikely.