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I find it ironic that you assume the person who owned 9 shares brought the suit actually felt harmed by the inappropriate use of the word independent and doesn'
by gitfan86 3y ago
I find it ironic that you assume the person who owned 9 shares brought the suit actually felt harmed by the inappropriate use of the word independent and doesn't have some other undisclosed interest in regards to filing suit.
- JumpCrisscross 3y ago> the person who owned 9 shares brought the suit actually felt harmed That's the rule of law for you! Nine shares have as many fundamental rights as nine billion. This is why the cost of capital for Delaware companies is lower than others'; it rules out entire categories of screwing around. Here's the good news: nobody is saying Musk can't get $55bn. It's saying he can't get it while pretending he isn't a controlling shareholder. The best thing to do might not be appealing, but putting the package to a new vote and moving on.
- ModernMech 3y agoI don't assume anything, the plaintiff argued exactly this in court and the judge found in their favor. If there's a suspicion that this person has some other undisclosed interest then that can be argued in court.