Hi Blister, With respect, your statement "looks like...

Hi Blister,
With respect, your statement "looks like shareholders did nothing" shows you haven't done your homework.
MLM Shareholders formed a Shareholder Action Group and after dogged resistance from the MLM Board (incl SS), called a Shareholders meeting under Section 249f of the Corporations Act with the overwhelming result being replacement of the Board.This action is rare on the ASX and very rarely successful.
The Project which SS championed, and was the final straw for shareholders, was a dud, with the end result that the Company that MLM were to merge with going belly up within months. MLM shareholders would likely have lost their entire investment.
Perhaps someone at MLM could clarify the history for you ? I would have expected that the Board of MRL should have made such enquiries but it's up to you shareholders to ascertain this if desired.
In relation to his legal claim, as an employee, I would imagine there would have been some argy bargy on entitlements, termination notice, unfair dismissal etc etc
The above is my recollection as an MLM shareholder and is my opinion only. I would strongly urge you to DYOR, as always and good luck with your investments.
Regards