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Bioject Medical Technologies Inc. Message Board

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  • mmmparsley mmmparsley Sep 18, 2009 1:25 AM Flag

    Who?

    I am fully confident that we might be able to sue either Bioject or Signet.

    "The entire Board of Directors of Bioject voted to approve the Memorandum and to take all actions necessary to consummate its terms, other than one director who has a financial interest in Signet and abstained from the vote."

    THE BOARD OF DIRECTORS DID NOT DO THEIR "DUTY OF CARE" in protecting shareholder value, and chose to, rather than act in the shareholder's best interest, act in their own interest by taking the bait of 10% of the company put into their pockets if they just go along with with these extremely unfair terms.

    Moreover, the "business judgment principle" (which states the the obligation is on THE SHAREHOLDER to prove the BOARD is not using their best judgement) is withheld when the subject of complaint in manipulation of the vote as to marginalize the shareholder base. Clearly, Signet has moved themselves into a position to push out the shareholders, and is now trying to leverage their position to effectively control a vote of their own terms (which include gifting themselves 10% of the company by placing board members to receive the 10% performance incentive). Regular shareholders have been left to sit and watch, and our vote will be marginalized by what seems to be conspiratorial behavior between the board of directors, management, and Signet.

    This is clearly illegal in my opinion and I suggest we motivate each other to take proper action.

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