But who is going to bring about this legal action
and pay for it, and what, explicitly, is the 'cause
of action'? Bad management decisions alone are
not a sufficient basis for legal action.
Basically someone has to prove breach of fiduciary
duty, and the allegations have to be pretty specific
as well - otherwise the case will be tossed out
for 'failure to state a claim' that has a legal basis.
Plus those bringing an action have to have "standing"
to do so [meaning they have to have suffered harm;
they cannot be people who are spectators who want to
see NUBV 'go down' just for the satisfaction of
seeing it].
Is everyone expecting the government to do it just
because stockholders are unhappy? If so, which
branch of government? [After all, stocks are not a
guaranteed investment.]
I'm not out of sympathy with everyone's dissatisfaction,
but only skeptical of cries of 'sue them' and 'put
them in jail' that depend on other people doing
the work and footing the bill.
CaptainJim: are you a person with "standing" who
has a basis for initiating legal action against NUBV?
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