He filed forms that he was going to be a passive investor, and the same day joined the board after discussion that had been in the works for weeks. This is strike two on misleading investors.
I haven't seen analysis on whether it was illegal, but I wouldn't want somebody like him on my board even if it succeeded in keeping him from buying up more stock. With him on the outside, maybe he causes more trouble than on the inside but I would be wary of the association.
I haven't seen analysis on whether it was illegal, but I wouldn't want somebody like him on my board even if it succeeded in keeping him from buying up more stock. With him on the outside, maybe he causes more trouble than on the inside but I would be wary of the association.