(Total Views: 459)
Posted On: 09/17/2021 6:59:38 PM
Post# of 148897
From the YWB message board -
That law firm is full of BS. Cytodyn itself wouldn't be able to remove a director without cause. This protects the rights of the shareholders that voted him in. Shareholders can remove directors with or without cause at the annual meeting or at a specially called meeting for the purpose of electing directors.
That they are basing their "investigation" on the election of directors makes it seem like the 13d might be behind this.
Quote:
JWR
So I contacted the latest ambulance chaser and they responded:
Thank you for your inquiry. Our firm is investigating CytoDyn because they have a provision in their certificate which is in violation of Delaware law. Specifically, CytoDyn requires that a Director may be removed "only with cause". However, Delaware law allows a Director to be removed with or without cause. This impacts you as a shareholder because it makes it more difficult for you and the rest of the shareholders to remove a director. Would you be interested in representing the shareholders of CytoDyn in an effort to make them amend their certificate to conform to Delaware law?
That law firm is full of BS. Cytodyn itself wouldn't be able to remove a director without cause. This protects the rights of the shareholders that voted him in. Shareholders can remove directors with or without cause at the annual meeting or at a specially called meeting for the purpose of electing directors.
That they are basing their "investigation" on the election of directors makes it seem like the 13d might be behind this.
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