Athletic Elite Inc. invested a great deal of time and money in developing a new athletic shoe. The corporation conducted numerous surveys and marketing studies and consulted with scientists and elite runners. Unfortunately, the week before the corporation released its new shoe, Nike Inc. released its new shoe, which proved to be a great success. Athletic Elites stock price has plunged. Would the directors have any liability for their decision?

Using the facts in Question 2, What would be different if the directors decision to develop a new athletic shoe was based on a review of various running magazines and websites?