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Did they have any choice, given the massive payday it represented for shareholders?

• danielmarkbruce 4y ago
  Of course they didn't have a choice. It was the board, not management, and they had a fiduciary obligation to sue. They'd have been sued had they not, and they morally have an obligation to represent shareholders so they'd be awful people if they didn't.
  • bink 4y ago
    "fiduciary obligation" (fiduciary duty) doesn't mean that if someone offers you above current value for your company that you are compelled to sell.
    • kgwgk 4y ago
      The shareholders voted.
    • danielmarkbruce 4y ago
      Nobody suggested they did. They have an obligation to act in shareholder's best interest. In this case, they'd have a very difficult time explaining that not suing would be in shareholder's best interest.