Originally Posted by
1A_Please
Getting a majority vote from a few large shareholders won't relieve the BoD of its responsibilities. It would be minority shareholders who didn't have board representation who would initiate an action against the BoD not the larger shareholders who the court would say had Board influence Class action lawyers are skilled in grouping these small shareholders together and getting funding from US investors who fund the claim action and take lots of the upside if they win.
No one batted a class action eyelid as VA's board embarked on a decade of trashing shareholder value and VA had something like five times as many ordinary shareholders as Rex.
Never say never but I just can't see Rex shareholders going down that path - where's the pay day for a litigation funder? Rex's market cap is less than $150 million and less than half of that is in the hands of minority shareholders.
If it was to happen, it'd be on Rex's grave - the race will be well and truly run by then.