he Supreme Court of Pennsylvania has held that Section 408 imposes on the directors and officers of a business corporation a degree of care significantly higher than that existing prior to its enactment.
Selheimer v. Manganese Corp. of America, 423 Pa. 563, 224 A.2d 634(1966).
John R. Kenrick,
Corporations - Standard of Care for Directors and Officers - Pennsylvania Business Corporation Law § 408,
Duq. L. Rev.
Available at: https://dsc.duq.edu/dlr/vol5/iss4/9