Thread

1. xnx · 1790439571 · focus · HN ↗

   Fireship pointed out that the board members gave themselves a generous severance package in the very brief interim, so that was very possibly the whole plan.

   1. kingstnap · 1790443469 · focus · HN ↗

      Bizzare self dealing.

      Vote out dude who has 84% shareholder control.

      Immediately sign yourself a golden parachute deal for 8 million right before getting fired the next day.

      Seems like complete breach of fiduciary duty.

      1. ImPostingOnHN · 1790443620 · focus · HN ↗

         A breach of fiduciary duty" describes Matt's behavior through all his escapades here. Minority shareholder rights are a thing, it just seems there are no minority shareholders willing enough to deal with Matt's nonsense to fight for it.

         If there is any litigation, it opens Matt up to liability for the same thing. Unfortunately, as we've seen, Matt is willing to self-destruct himself and the company if it would effect sufficient self-glorification for him.

         1. to11mtm · 1790450246 · focus · HN ↗

            If anything the breach of fiduciary duty for those severance packages would not be Matt alone, if the board was the one voting for it.

            > Matt is willing to self-destruct himself and the company if it would effect sufficient self-glorification for him.

            I've worked for at least one boss with control issues and/or delusions of grandeur, and I will say that, well, if he's at the top, it's his choice for better or worse.

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