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Special Meeting Requirements
Thu Mar 18, 2010 10:56

If I am a Board Member and in favor of shareholders calling a special meeting, do my shares count as being part of the 25 per cent required to get a meeting called? I have a Board with 2 directors not acting in good faith, but rather for their own agendas, and they are moving out within a few months while making bad long term financial and strategic decisions for remaining shareholders. Thanks

    • Re: Special Meeting Requirements ~AR, Thu Mar 18 11:50
      Absolutely, Your shares count.. Iím not asking about the decisions themselves because I have seen this scenario many, many times, but not without proper correction as the end result. If there are... more
      • My other Board members are partially responsible for the situation that is calling for the Special Meeting so Shareholders can attempt to get full disclosure. Under Business Judgment Rule it seems... more
      • Special Meeting BNL, Thu Mar 18 22:50
        Well, we're not sure a third BM is not moving out, and the fourth BM goes with the majority all the time. Met with SHs today, and, of course, they want to call a special meeting. Problem is, a lot of ... more
        • Re: Special Meeting ~AR, Fri Mar 19 08:44
          Also, you said you need 25% to call the meeting, how much do you need to have any type of vote at that meeting, is it the same? probably its more... You'll need proxies and real bodies there. No... more
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