being only *half* asleep (rather than completely comatose) in corporations class pays off when you want to blog about corporations. so, can sinclair get in trouble with the law for their actions?
on sinclair and shareholder derivative actions
more here, in detail
[oh, and for the record... the screenshots of the falling sinclair stock price were just gratuitous additions to the posts and probably don't hold any real value to the argument. i just call it schadenfreude...]
Thursday, October 14, 2004
hey, i ain't the only one who thought it up...
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2 comments:
B-gal:
You did go to the Corporations class where they tell you how the board of the corporation can essentially say that a shareholder lawsuit is a waste of time, and barring some blatant conflict of interest, totally kill it, right?
- Ben
i am ashamed of you! the legal service industry thrives on lawsuits that can rarely get a favorable judgment! if a prospective client comes into your office and says "hey, i am a large fund manager, and my clients are stockholders of sinclair. i'd like to sue on their behalf!"
then you say, "but i don't think you will prevail."
then they say: "I WILL PAY YOU!"
you going to turn that shit down?! hell no! show me the money! there is a cause of action, and although there is barely a chance that it will prevail, the theory works.
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