Comment by ImPostingOnHN
6 hours ago
A breach of fiduciary duty" describes Matt's behavior through all his escapades here. Minority shareholder rights are a thing, it just seems there are no minority shareholders willing enough to deal with Matt's nonsense to fight for it.
If there is any litigation, it opens Matt up to liability for the same thing. Unfortunately, as we've seen, Matt is willing to self-destruct himself and the company if it would effect sufficient self-glorification for him.
Minority shareholder rights do not generally include a right to remove officers of the company unilaterally.
If there are enough of them it certainly does.
All you need is a quorum at the next board meeting. In this case that would have never worked but in the general case it could definitely happen.
But you can advocate for it.
If anything the breach of fiduciary duty for those severance packages would not be Matt alone, if the board was the one voting for it.
> Matt is willing to self-destruct himself and the company if it would effect sufficient self-glorification for him.
I've worked for at least one boss with control issues and/or delusions of grandeur, and I will say that, well, if he's at the top, it's his choice for better or worse.