"Common shareholders are granted six rights: voting power, ownership, the right to transfer ownership, dividends, the right to inspect corporate document, and the right to sue for wrongful acts.
I did this challenge to a general counsel of a MJ stock company about suspected fraudulent contracts.
The posters, on that board, were very savvy and stated with certainty why that was allowed. They were very adamant about it."
Savvy, certainty and adamant among posters on a board all mean less than zilch. Corporate documents are vastly different from commercial contracts and are realms as different as night and day.
Also, the referral to Shareholder rights submitted is misleading in that it comes from an information website - Investopedia.com and Section 5. does not state "corporate document" as alleged above. It states . . . "Corporate Books and Records" and goes on to state basic documents, etc..... silence on commercial contracts and documents where there are business positions to be protected in a competitive environment. It even goes on with some degree of specificity, stating "such as company bylaws and minutes of board meetings." That's it. There must be more to the story as tt how the General Counsel responded....most likely with silence and went to lunch, which should have been the case.
QUOTE:
5. Opportunity to Inspect Corporate Books and Records. Shareholders have the right to examine basic documents such as company bylaws and minutes of board meetings. In addition, the Securities and Exchange Act of 1934 requires public companies to periodically disclose financials. Most companies produce two versions of their annual report. The 10-K version must follow the filing requirements set by the Securities and Exchange Commission (SEC).
UNQUOTE
