Judge upholds Block's right to make "terrible" business decisions, dismisses lawsuits over Tidal purchase.

A chancery court judge has dismissed a shareholder lawsuit against Jack Dorsey's fintech company, Block, for its 2021 decision to buy music streaming app Tidal, despite the judge calling the decision "terrible." The judge ruled that a board of directors comprised of a majority of disinterested and independent directors is free to make a terrible business decision without any meaningful threat of liability, as long as the directors approve the action in good faith. Shareholders from the Coral Springs Police Officers' Pension Plan had tried to sue Dorsey and Block for the purchase.