{"id":4481,"date":"2007-07-05T17:43:48","date_gmt":"2007-07-05T17:43:48","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/07\/want_to_make_big_bucks_without_1"},"modified":"2021-09-20T15:41:38","modified_gmt":"2021-09-20T20:41:38","slug":"want-to-make-big-bucks-without-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/want-to-make-big-bucks-without-1\/","title":{"rendered":"Want to Make Big Bucks Without Responsibility? Become a Corporate Director"},"content":{"rendered":"

\t\t\t\tA Texas judge dismissed a shareholder class action against the directors of energy firm TXU, holding that, under Texas law, shareholders of a company can not sue that company’s directors. Thus, shareholders can only sue the company itself, which is really suing themselves. Meanwhile, the company can sue the board members but, since the board members would decide that, what is the likelihood? (An arcane action known as a shareholders derivative suit can be filed by the shareholders, if they can demonstrate the board should have initiated the action – against themselves – but did not.) <\/p>\n

The lawsuit filed by the TXU shareholders claimed the directors violated their fiduciary duty in agreeing to acquisition of TXU by a private equity firm for $45 billion paid to the shareholders. Were the shareholders cheated? We will never know, will we, because the suit was dismissed, meaning that these and other shareholders can’t sue a company’s directors – at least not in Texas. <\/p>\n

If you learn of job openings for Corporate Directors, apply fast \u2013 and give me a call! <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

A Texas judge dismissed a shareholder class action against the directors of energy firm TXU, holding that, under Texas law, shareholders of a company can not sue that company’s directors. Thus, shareholders can only sue the company itself, which is really suing themselves. Meanwhile, the company can sue the board members but, since the board […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3804],"tags":[],"class_list":["post-4481","post","type-post","status-publish","format-standard","hentry","category-class-action-lawsuits"],"yoast_head":"\nWant to Make Big Bucks Without Responsibility? 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