Jchawk, according to the 14C, management and the BOD have control of over 51% of the voting shares of the company. I think they have approximately 70%.
There may be valid reasons for shareholders to call for special meetings such as a lack of confidence in management, concern for the direction of the company, a big drop in share price, a response to a potential take over (T. Boone Pickens, et al), concerns about the company's impact on the environment, etc.
Because management and the BOD have effective control of the company there is no reason to notify shareholders or call a vote regarding their actions.
AIMMHO.
Trueheart
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