|
Problems
Cablevision, incorporated
in an MBCA jurisdiction, has a nine-member board. Two of the directors,
Jill and Dan, begin to complain about the current management's effectiveness.
The company's CEO says that Jill and Dan have misrepresented their concerns
to the board. The board majority decides to remove the two up-start
directors. Assume Cablevision's articles call for cumulative voting
of directors, though permitting removal for cause by a majority of shares..
Party
A (Jill and Dan) Argue the board cannot remove the directors. Argue
further that the shareholders cannot remove the directors even for cause.
Party B (management)
Argue the board can take action to remove the directors. Argue further
that a majority of shareholders can remove the directors for cause.
|
