> and could arguably be illegal in a publicly traded company ("best efforts to maximize/preserve shareholder value" etc).
There's no way the shareholders win this lawsuit. Violating fiduciary duty involves doing things you know won't provide value. Long term planning would be a defense for this.
The shareholders could absolutely oust those executives, though. And they may very well do so.
There's no way the shareholders win this lawsuit. Violating fiduciary duty involves doing things you know won't provide value. Long term planning would be a defense for this.
The shareholders could absolutely oust those executives, though. And they may very well do so.