Friday, November 17, 2017 1:41:28 PM
It would be filed as a derivative suit whereby the Plaintiff, shareholders of TEUFF would sue the Board of Directors thru a complaint alleging that Defendants breached their fiduciary duty of good faith, committed waste by approving transactions that were not the product of good faith business judgment, and were unjustly enriched at TEUFF/common shareholders expense. Plaintiffs would first file and make a demand on the TEUFFs Board before instituting the above action against Defendants - the BOD of Box Ships.
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