Calypso Wireless (fka CLYW)

[downsideup]

The bylaws make it clear enough that taking any action related to the directors... requires the directors prior approval. CLYW's bylaws clearly do not intend to ever enable the CEO in telling the board what to do... or to empower him in undertaking to enable a minority of shareholders to subvert the legitimate processes to remove a director...

That they did all that... did it wrongly... and failed ?

That they did all that... did it wrongly... and did it in contempt of a standing court order ?

Clear enough, then, that the management of this company don't want to be accountable... to anyone... other than themselves.

Shareholders are being wronged... but have limited powers to correct that problem... particularly when they're being wronged by a rogue management that doesn't bother to comply with the law anyway... and that won't obey the orders of a judge...

The judge has a bit more power... and we'll see how he likes Turrini and Peirce poking him in the eye with a sharp stick...