Under Massachusetts law, which of the following best describes the business judgment rule as it applies to corporate directors?
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A
Directors are strictly liable for any business decision that results in a corporate loss
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B
Courts will not second-guess a director's business decision if the director acted on an informed basis, in good faith, and in the honest belief the decision served the company's best interest
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C
Directors are protected only if they obtain prior shareholder approval before making significant business decisions
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D
The rule applies only to directors who own at least 10% of the corporation's outstanding stock