Off to church, maybe I will see Bob and his spawn there praying for more money and less oversight.
Forgive me if I and wrong but the share count does not matter with this type of legal recourse. Any shareholder can file a Shareholder Derivative Lawsuit. Cenveo seems to be the poster child for this type of action and an example of the exact reason that it was put in place to begin with. It doesn't matter who the largest shareholder is.
A shareholder derivative suit is a lawsuit brought by a shareholder on behalf of a corporation against a third party. Often, the third party is an insider of the corporation, such as an executive officer or director. Shareholder derivative suits are unique because under traditional corporate law, management is responsible for bringing and defending the corporation against suit. Shareholder derivative suits permit a shareholder to initiate a suit when management has failed to do so. Because[clarification needed] derivative suits vary the traditional roles of management and shareholders, many jurisdictions have implemented various procedural requirements to derivative suits.
Purpose and difficulties:
Under traditional corporate business law, shareholders are the owners of a corporation. However, they are not empowered to control the day-to-day operations of the corporation. Instead, shareholders appoint directors, and the directors in turn appoint officers or executives to manage day-to-day operations.
Derivative suits permit a shareholder to bring an action in the name of the corporation against parties allegedly causing harm to the corporation. If the directors, officers, or employees of the corporation are not willing to file an action, a shareholder may first petition them to proceed. If such petition fails, the shareholder may take it upon himself to bring an action on behalf of the corporation. Any proceeds of a successful action are awarded to the corporation and not to the individual shareholders that initiate the action.
Does this fit the bill or what? Holy cow!
Simple free3891, they hemorrhaging money with a crippling debt load all the while the COB and CEO, who by the way are the same person, along with his three sons grab huge compensation packages and continue to grind all the employees under their heels. Rumor has it that there has been some, well let's just call it troubling, things going on Stamford.
Will he be able to do this call with a straight face? I would imagine he is practicing some throat clearing right about now.
Will David L be a guest introductee on this call? Will they let Joe speak? Will anyone be allowed to ask him about the dropping share price? Will anyone be allowed to ask him about corporate governance and the separation of the COB and CEO position? Will anyone question the nepotism? Will anyone question the 6 figure compensations in the face of the company hemorrhaging millions? And what is going on with that supposed embedded intern that "uhocenveo" mentioned? Is there a skeleton in the closet? Will the call be webcasted to all employees? Since so many employees are shareholders, will he field questions from the rank and file? Will he estimate what the monthly savings will be by cutting all the sales reps commission numbers?
Roche must be eyeing this up and for good reason! Why would Activis want to market a generic if the drug was not selling as some on this board claim!
Shorts will get burned and then head back to Israel...
What was the name of the restaurant in Greenwich? Were the bond holders invited to this dinner? Will Bob get their early to turn the thermostat down to 50 and pick his seat at the head of the table? It is good to see that we have a corp insider on this message board. It is my guess that you have been dissed by Sr. and have had enough. I can't wait to hear what the intern may have to report to the SEC as you have previously mentioned. Will this be the topic of discussion at the dinner in Greenwich? Maybe Bob will be announcing he is stepping down after his last comp payout. Will it be over or under $6 Million this year?
Johnnygozzi, you sound desperate! Looks like you are on the wrong side of the trade, LOL. Are you going to cover today and help push this higher? Next news may be a takeover at $5.00++++...
What day is this? This needs to be attended by a group of shareholders that lost most of their investment in Cenveo!
Hello Zacks, who the hell keeps putting Cenveo on the top 5 sell list? Don't you idiots know that we have the best management team in the business. Arrrggg cough cough, those that are left anyway.
Why does the share price keep going lower?
Because I messed everything up Joe. But as long as we keep blaming other people and playing tricks, we can fool everyone. And another thing son, please don't ask me that question anymore as long as you are getting your big fat salary, bonus and free shares! And that goes for your brothers too! And another thing, I don't want any of you talking to any of the Board members! And if any lawyers call, direct them to me or our legal department! Now team, let's get out there and fire someone!
Gulp! Don't they know this is the best management team in the business!
Humpty Dumpty sat on the wall
Humpty Dumpty had a great call
All the kings horses and all the kings men
Couldn't put Humpty Dumpty back together again
Humpty Dumpty sat in Stamford
Humpty Dumpty going to have a great fall
All the chairman's cronies and all the chairman's sons
Couldn't put Humpty Dumpty back together again
Will there be vindication for all the hundreds of shareholders/employees that lost thousands upon thousands of dollars under his reign? I hope so!
There was a law firm from NY by the name of Levi and Korinsky (sp) that specializes in shareholder lawsuits. They call it a shareholders derivative action whereby a shareholder or group of shareholders file suit against one or more officers of a company for breaching the fiduciary responsibilities owed to the shareholders. In my opinion, this is a definite case study and the UCONN business dept should get right on this breaking story and roll-up their president who is, figuratively, sleeping with Sr.to get her donations locked up.
Sitting on the BOD is a college president, a retired private school head-master, a few of Bob's cronies and himself truly. There is no separation of the CEO and the Chairman of the Board, a huge question mark in today's corporate governance. I can't wait to see how much money he is pulling out of the company along with his spawn. I was also told by someone at ground zero (corporate) that Sr hardly ever goes into the office any more. Whether or not that is true I can't say for sure. Sounds like there is more to come! A general question that comes to mind, can an intern get a whistle blower reward from the IRS or SEC if in fact there are some issues recently uncovered and if in fact what uhohcenveo is saying is true about an intern mole?
Now back to work!
Couldn't mean Bill Stang, he has never been a heavy hitter, just a collector of pay checks. Consider it a slap in the face when you now report to a guy that once reported to you. Diagseam, my guess is that you and everyone else will be getting a lot busier. Is there a push to close more plants?
The legal team in Philly, all one of them will be busy chasing the defectors and bombarding them with threatening letters. How dare you quit in response to reduction in comp, the equivalent of getting kicked right in the gum box. Such a joke, smells of desperation. I can't wait to see the 10Q to see what these thieves paid themselves in the face of all these income reductions. Humpty Dumpty is sitting on the wall about to have a great big fall.
Best management team in the business, claims to have never missed his numbers, brightest children on the planet (Except for Joe?), played NFL football, never wrong, and many other attributes and the stock price is going south again. Something is amiss.