Item 1.01 - Directs the corporation to cover the Boards' collective hineys if the shareholders sue them.
Item 5.03, Section 3.3 - Gives the chairman the right to adjourn a shareholder meeting at any time
Item 3.03 appears to have a few poison-pill provisions, but I don't really feel like deciphering them right now.
Next armchair analyst?
-'Playa
NOTE: Severe fecal impaction may render the above words highly debatable.
1.01 definitely is a cover your ass because you're getting sued soon ...
Not much else. Legalese is making my head hurt.
I think it's a defensive movement by the company against a buyout or hostile shareholders (i.e. - Bill Gates or the guy from the Redskins) but I don't know if it's just being forward-looking or actually reacting to a situation, that part's impossible to tell. It does show that they're trying to take the initiative though, which again could be good or bad depending on if the first moves have already been made ...
From what it looks like to me, since there has been a lot of heated talk lately about SFI management, the officers are just protecting themselves in case a lynch mob arises.
This is why Burke postponed a shareholder meeting until he could meet with his lawyer.
The other half pretty much sets them up for an acquisition or merger, IF they decide to do so.
So this is pretty much just an ass protecting measure, nothing else. It's not a sign that they're doing anything but worrying about the bad press they have been getting.
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