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Regardless of who he puts on the board, directors have legal obligations to the SEC and all shareholders. If he wants that level of control he would need to tak
by angry_octet 26d ago
Regardless of who he puts on the board, directors have legal obligations to the SEC and all shareholders. If he wants that level of control he would need to take the company private, and various investor agreements probably prevent this.
- Onavo 26d ago> If he wants that level of control he would need to take the company private, and various investor agreements probably prevent this. Since when was Automatic a public listed company?
- angry_octet 26d agoI should have said: establish sole ownership.
- gkanai 26d agoIt is not. They did take VC funding however, which is when the board and the investor agreements came into force.
- angry_octet 25d agoPeople seem very angry about my comment, which perhaps indicates why WordPress is in such chaos. The SEC has significant enforcement powers still, and investors can mount lawsuits against shareholder oppression. https://www.dandodiary.com/2023/10/articles/securities-enforcement/private-companies-and-sec-enforcement-actions/ https://www.dandodiary.com/2023/10/articles/securities-enfor...