Which of the following is a FALSE statement?

1.Directors are regarded as fiduciaries of the corporation.

2.Corporate constituency statutes in most states prohibit the board of directors from considering any stakeholder group in corporate decision-making except the short-term interests of the shareholders.

3.Cumulative voting is a device to help minority shareholders to secure some representation on the board of directors.

4.A "pooling agreement" is a device to help the shareholders gain some degree of control of corporate policy.