The bottom line for that article is: You have to sue them to find out if they breached any fiduciary data. There's little to no case law.
So unless one is predicting the outcome of a lawsuit that hasn't been filed yet, there's no "case" to be made that the owners of the Class A preferred shares, be they officers or directors, do not have the right to exercise the conversion options that were clearly stated in every SHMP filing since the Class A shares were created.
Like I said before, SHMP "investors" might consider lawyering-up if they think they have a case for when SHMP does the R/S and the Class A holders covert to common.
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