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If this is true, can shareholders (if they wanted to) sue the Board for being deaf to shareholder interest? Or just fire the Board and elect a new one? What I
by systemvoltage 5y ago
If this is true, can shareholders (if they wanted to) sue the Board for being deaf to shareholder interest? Or just fire the Board and elect a new one?
What I am trying to understand is that – do the shareholders want these people to have cultural power?
- namelessoracle 5y agoone of the larger shareholders is a Saudi Prince who for sure has his stake for reasons other than shareholder value.
- fit2rule 5y ago
- gregschlom 5y agoI would guess yes based on Matt Levine's series "Everything is Securities Fraud" (https://www.bloomberg.com/opinion/articles/2019-06-26/everything-everywhere-is-securities-fraud https://www.bloomberg.com/opinion/articles/2019-06-26/everyt...)
- pas 5y agoif Musk can convince enough shareholders to call a vote they can vote on it directly. so usually the problem is trying to find the shareholders (or their proxies) and convincing them. (for example if half of twitter is owned by passive index funds it might be hard to persuade them to do anything)