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vasilios

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27/04/23

13:26

Post #: 67480643
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Originally posted by JB1975: ↑

The Board of Directors have a fiduciary duty not to gamble the fate of the Company by allowing it to be attacked by shorters should any delays manifest themselves.
Do they though?

That would be a magnificently useful thesis applicable to so many companies and helpful to so many shareholders of so many companies if it were in fact valid. Oh please, let it be true.

If it were in fact the case that such a specific application of the general fiduciary duty of directors was recognized in law that would be impressive to me. And if there was any indication that in practice ASIC or (extra-ASIC - by extra-ASIC I mean that ASIC as I understand can sometimes choose to not act to uphold the law in specific instances (its a resourcing thing, a prioritising thing) - and so in those instances parties (wronged shareholders in their own view wanting remedies for breaches of fidiciary duties) may have to either wear it or go into court on their own behalf - and always with the possibility that ASIC might later deal themselves in anyway and so potentially by gate crashing later confound the proceedings).

So any legal cases, precedents, that you are aware of behind your wonderful sounding claim?

Does such a fiduciary duty, in the specific form you've posited it, actually exist beyond your imaginative sentence - I'd love to see evidence of it?

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MSB Price at posting: 89.0¢ Sentiment: Buy Disclosure: Held
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Last $1.31		Change 0.040(3.16%)		Mkt cap ! $1.490B

Open	High	Low	Value	Volume
$1.28	$1.32	$1.26	$3.433M	2.652M

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2	39558	$1.30

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Price($)	Vol.	No.
$1.31	21776	3

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No.	Vol.	Price($)
2	39558	1.300
3	26433	1.295
6	108207	1.290
2	47468	1.285
3	10889	1.280

Price($)	Vol.	No.
1.310	21776	3
1.315	57441	5
1.320	2500	1
1.325	61160	4
1.330	15000	2

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Go back to your law firm and talk malakies there!

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