RE:RE:Exro - The silence of the lambsHughGWrecktion wrote: What is there they could possibly say? If they weren't saying anything before they are going to be saying a lot less now that there's a lawsuit. You know the first piece of legal advice they got from the lawyers was to not say a thing.
They can't keep pumping Coil Driver because everybody knows that while putting the coils in series you get twice the torque per amp but the motor can only handle half the amps so you get the same torque.
Picked up from another board where shareholders are also unhappy with management and someone mentioned a lawsuit:(hate to admit I am an owner of both)
"This is a quote from a law firm website here in the states, you can start to research the facts and acquire information from licensed attorneys further at your leisure:...
"The lawsuit provides an opportunity to discuss the duties of the board and CEO of a company. Generally, the board of directors and CEO have a fiduciary duty to shareholders. The CEO also has a duty of care, loyalty, and disclosure. The duty of care entails a responsibility to consider all relevant information before moving forward with a business decision, the duty of loyalty to act in the best interests of the shareholders and the duty of disclosure to fully inform the board of directors and the shareholders about major issues that may face the business.
A failure to meet these duties can result in a breach of the CEO’s fiduciary duties. Shareholders that believe the CEO failed in their role can hold the individual accountable with a lawsuit. This can lead to financial compensation to help cover losses as well as serve as a deterrent for future errors."
https://www.dunnlawpa.com/ceos-and-fiduciary-duty-what-can-a-board-expect/