Question
While at home, Clark Kent, the president and chief executive officer of The Daily Planet, Inc., is called by the CEO of the Tribune Corporation,
While at home, Clark Kent, the president and chief executive officer of The Daily Planet, Inc., is called by the CEO of the Tribune Corporation, who asks Kent if The Daily Planet, Inc. would be interested in buying 25 percent of the outstanding shares of the Tribune Corporation. The Daily Planet, Inc. has contemplated acquiring the Tribune Corporation for some time, but Kent tells the Tribune Company's CEO that The Daily Planet, Inc. is not interested. Kent tells the CEO, however, that Kent Enterprises is willing to buy the shares. Kent is the 100 percent owner of Kent Enterprises. The Tribune Company sells the shares to Kent Enterprises for $35 million. A year later, Kent Enterprises sells the shares for $55 million. When The Daily Planet Inc.'s directors discover Kent Enterprise's purchase and sale of the Tribune Company shares, they sue Kent on behalf of the corporation. Which of the following is correct?
Group of answer choices
A. Kent has done nothing wrong.
B. Kent has self-dealt with the corporation.
C. Kent has usurped a corporate opportunity.
D. Kent has exceeded his authority to act for the corporation.
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