Amarin Corp Plc (AMRN)

[marjac]

Invest,

The shareholders remedy is a shareholders derivative suit. But such a suit would have to be very, very fact specific in terms of proving "theft".

As I have discussed and cautioned previously, Management and the Board enjoy a strong legal presumption of correctness in their decisions, under the Business Judgment Rule.

This means that a Court would not take action unless the decisions made are unreasonable breaches of fiduciary duty/gross negligence, fraud, or self-dealing. Just because shareholders may think that the actions and decision-making of management, are stupid, delusional, tone-deaf, and not in the best interest of the shareholders, does not mean that a court would find such grounds sufficient to take action in the face of the business judgment rule.

The type of derivative actions that I am seriously looking at, are damages actions for what happened on 3/30/2020, against the lawyers for legal malpractice (Legal mal insurance), and the Board/Management for Breach of Fiduciary Duty (D&O Insurance). Any such recovery after costs and attorneys fees, would go to the company. A component of the latter action could seek equitable relief removing all Directors who were Directors at the time of the debacle.