View Single Post
Old 12-14-2022, 09:24 AM   #67435
Evil Vito
President of Freedonia
 
Evil Vito's Avatar
 
Posts: 58,329
Evil Vito makes a lot of good posts (200,000+)Evil Vito makes a lot of good posts (200,000+)Evil Vito makes a lot of good posts (200,000+)Evil Vito makes a lot of good posts (200,000+)Evil Vito makes a lot of good posts (200,000+)Evil Vito makes a lot of good posts (200,000+)Evil Vito makes a lot of good posts (200,000+)Evil Vito makes a lot of good posts (200,000+)Evil Vito makes a lot of good posts (200,000+)Evil Vito makes a lot of good posts (200,000+)Evil Vito makes a lot of good posts (200,000+)Evil Vito makes a lot of good posts (200,000+)Evil Vito makes a lot of good posts (200,000+)
Even though Vince technically does have the ability to re-appoint himself as chairman since he's the majority shareholder, the majority shareholder has a fiduciary responsibility to the minority shareholders to act in "good faith and inherent fairness".

In other words, if he comes back and the stock promptly tanks amid the controversy, he's opening himself up to lawsuits from the minority shareholders. Majority shareholders can and have been successfully litigated by the minority when it was decided the majority didn't act in the best interest of the entire shareholding.

Can't really imagine anybody close to Vince actually telling him it would be a good idea to return.
Evil Vito is offline   Reply With Quote