Election, Proxy and Quorum Manipulation
Ballots, proxies, quorum calls, candidate eligibility or inspection of the election conducted so as to determine the outcome.
NEW YORK
No agency has jurisdiction
An action to set aside the election, decided long after the contested board has been seated and has acted.
2 verified cases — 0 against a board, 1 for a board, 1 split, 0 open. No clean finding of liability against a board in this bucket.
What the board is said to have done
Disqualified two shareholders as candidates in the annual board election, acting on the recommendation of an election committee the board itself had appointed.
No tribunal ever decided this.
Board prevailed — merits not decided; allegation, not a finding
What the board is said to have done
Went to court to have a candidate elected at its own annual meeting declared ineligible to serve, on the theory that a mortgage he took from a holder of unsold shares was "remuneration" from the sponsor.
A tribunal rejected this claim.
Split decision — merits not decided; allegation, not a finding