I guess I'll make it simpler.
Will the derivative suit be against the current directors or officers (George Sharp) for breach of fiduciary duty? There's a legit cause of action for him taking a legal position that caused a massive loss in shareholder value and delays in a potential merger, instead of trying harder for settlement.
If your answer is no, then I'm afraid I don't think there is anyone else you can sue. You can't file a shareholder derivative suit against a shareholder, only the directors and officers. But go ahead, the more I think about it the more I think you have a winning cause of action, especially if Sharp loses the appeal.
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