12 Retech Corp (fka RETC)

[kex0414]

George Sharp
@GeorgeASharp
May 24

:Didn't want to announce this until after the case was heard, but I have already retained counsel to file a derivative Breach of Fiduciary Duty case against the current officers and directors of $RETC win or lose. They don't get to decide when or if the shareholders are important.

Yeah; that’s a bright move
A shareholder derivative suit is a lawsuit brought by a shareholder on behalf of a corporation. Generally, a shareholder can only sue on behalf of a corporation when the corporation has a valid cause of action, but has refused to use it. This often happens when the defendant in the suit is someone close to the company, like a director or a corporate officer. If the suit is successful, the proceeds go to the corporation, not to the shareholder who brought the suit.

Two scenarios:
1.) GS loses his bid for Conservatorship:GS's derivitive action would be disruptive to the Company and that is not good for the Shareholders..
2.) GS is awarded the Conservatorship: The Derivative action is unnecessary and useless.

If GS wins the suit and monetary damages were to be awarded to the Corporation, take all the money that is available to collect from the the Defendants and divide it by the number of shares. That's the value of the Suit to Shareholders.

My opinion; it is petty and ego driven and momentarily useless.