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Re: PeonyVMW post# 80834

Tuesday, 05/23/2023 4:57:56 PM

Tuesday, May 23, 2023 4:57:56 PM

Post# of 80868
I'm stepping into the wayback machine. This was outlined in some of the company's filings, but the attachments to the forms 14-D/A aren't available in OTC's disclosure service, and MSLP's investor relations pages are long gone. Google found a related opinion here: musclepharm-corp-v-white-winston, tho it only offers a summary of the case without the full detail of the complaint.

In short, one of WW's many actions against MSLP/Drex was a derivative action stating that in 2017 the BOD breached its fiduciary duty by refusing to consider an offer that WW made to purchase $18MM of MSLP stock (enough to buy Drex's position out) on the condition that the management team get the boot.

There were questions of fact as to how valid that offer was, etc., but the gist is that WW could have bought Drex out, but Drex wouldn't allow the BOD to consider it.