Muscle Pharm Corporation (MSLPQ)

[stupified777]

Hmmmmm....interesting. I’d be curious to see who is part of the special committee Amerop mentions in their letter.


Special Committees:

As contrasted to standing committees, such as the audit or compensation committees, corporate boards establish, on an ad hoc basis, special independent board committees, which fall into three separate categories:

(i) the special negotiation committee that is charged with the responsibility of considering and negotiating a proposed transaction involving a conflict of interest between the company and its directors, controlling shareholders, management or other fiduciaries,

(ii) the special litigation committee that is charged with the responsibility of deciding whether or not shareholder derivative litigation claims should be pursued, and

(iii) the special investigation committee that is charged with investigating and determining an appropriate response for alleged internal corporate wrongdoing.

Unlike a standing committee, the special committees do not usually operate under a formal written charter since their assigned tasks are usually concerned with a single issue that is not on-going in nature. The special committee’s responsibilities and authority are established pursuant to board resolutions that lay out who will be the members and what the committee’s resources, duties and powers will b