Turrini and Pierce are irresponsible and incompetent and have no business running a company that is trying to monetize a multi-billion dollar patent. The events of the special meeting prove that statement. Let me explain:
Lets assume that the meeting was legally called. When it became clear that the ballots were a fraud on their face by stating the action was recommended by the board weeks before the election what actions did management take to correct the deficiency? None. They pretended that it was not a problem because the proxy had language stating the it was management that recommended the vote. But the proxy said nothing correcting the incorrect language in the ballots. A responsible manager, when notified of a problem, takes action to correct the problem. Turrini and Pierce did nothing. There was still time to correct the ballots and the proxy and notify shareholders of the error. But none of these actions were taken.
When the vote took place in an already tainted process and they failed to get the votes required to remove a director by Delaware law what actions did they take. None. A responsible manager would have immediately sought a declaratory judgment of the validity of the election. Concurrency they would have considered refiling or opening negotiations with the director in question.
Above all, they would have taken no further board actions while board membership was in question. That is what responsible management would do. What do Turrini and Pierce do? On the very next day they appoint a new director bringing the number of directors back to four, the very grounds management swore was the problem in a California court.
They ignore problems and pretend they will go away, just as Turrini did in the original case with Diac by not showing up in court. Similar to the actions that were taken when Diac tried to sell the patent. It wasn't management that filed the TRO stopping that sale, it was an independent director.
They are not capable of running this company responsibly. The proof is visible in recent events. If they cannot responsibly manage the company affairs in this matter what makes you think they can monetize the patent? What makes you think they can go head-to-head with a company like T-Mobile and get any kind of good deal. They will take a multi-billion dollar idea and mismanage it into a couple of million dollar return and then tell everyone what a great job they did.
