Alloy Steel Inc. (fka AYSI)

[DaveinHackensack]

They haven't been sued because

No shareholders have sued them, not because corporate law does or doesn't make sense. Law is subject to interpretation and dispute over matters of fact and law, which is what happens during lawsuits.

Even if AYSI doesn't want to remain a public company, being sued by its shareholders wouldn't help it in other aspects of its business (trying to raise private financing, negotiating new deals, etc.).

If management doesn't want the hassle of small shareholders, why not make a tender offer for the rest of the outstanding shares?