It's assumed you're a minority shareholder doing the suing, since the majority is required to approve the split to begin with. Individual shareholders have con

It's assumed you're a minority shareholder doing the suing, since the majority is required to approve the split to begin with. Individual shareholders have contractual rights that are guaranteed by the shareholder's agreement with the corporation, and shareholders will sue if there is negligence or other violations of this agreement. There are also varying degrees of control/rights depending on the class of equity - it's one of the reasons Warren Buffet only buys preferred stock.