Moose, my guess is that Bill Espy, or someone of his ilk, has submitted a shareholder proposal to be considered at the 2005 Annual Meeting. Perhaps these dissidents have nominated alternative Directors.
Corp Buyer and crew are here to rouse the rabble and sway the vote.
Corp is too smart to be making these absurd arguments: management probably did X, likely resulting in Y, and thus damaged shareholder value.
We'll see the annual meeting agenda soon enough.