Tuesday, November 16, 2021 2:28:49 PM
For breach of contract claims, however, it seems counter-intuitive that you could claim damages on an anticipatory breach if you don't currently own anything. Even with the dividends, weren't all payments halted while in conservatorship? How do you claim rights to future dividends if you currently own no stock?
This is all going to get really hairy with direct vs derivative as well, because although contractual rights to dividends were essentially extinguished (direct), the real injury is that the companies squandered money that would have allowed them to escape and resume dividends in the future (derivative).
I don't know what the remedy is going to look like in this case. I don't know what the authority of the court is to grant a particular remedy is either. Seems to me that the contract that violated shareholder rights should be voided, but idk if that's possible.
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