Take the following as truth: Participants also noted that unfortunately, as a result of the recent major financial reporting issues leading to restatements and, in some cases, bankruptcy, board members have focused on the rules and may be concerned more about their personal reputation and financial liability rather than focusing on protecting shareholders' interests and adding shareholder value.
Then the following statement: "Participants said that board members are more preoccupied with their own reputation than the shareholders' interests." is true, false, or inconclusive?
Answer: False