CLE compliant? Absolutely a company is entitled to representation.
From what I can read in the filings, the dispute is $100,000. Counsel is also on the Board of Directors. To vote and not abstain to pay him/herself $250k per year on a $100,000 dispute seems a bit of a personal gain and breach of fiduciary. Had he abstained, for the BoD to agree to pay $250,000 per year to a personal friend and BoD member when the company has less revenue than counsel is invoicing and less in total assets than the counselor is invoicing is not beneficial to its shareholders. The issuer is clear that enriching themselves using shareholder capital is more important than actually developing a company and shareholder value.
Eight years later, only $158,000 in assets. Girl Scouts at the grocery store sell more cookies than DW.
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