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Matt Levine’s Money Stuff: The Board Can’t Fire You If It Quits

Oct. 5, 2021, 4:31 PM

Ozy

This is a sequence of corporate governance moves that is honestly new to me:


  1. Do some stuff that is, let us say, arguably fraud-adjacent.



  • 3. Announce that your board has hired a high-powered law firm to conduct a review of what you did.



  • 5. Obviously you don’t need the board investigation or the fancy law firm.


  • 6. You don’t even need a board.



  • 8. Announce that you changed your mind and are not ...