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A few companies have run into serious shareholder resistance.
That's a recipe for some serious shareholder grief.
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These are serious problems, and shareholders are undoubtedly in for a bumpier ride than they're used to.
But it did indicate that the company had found enough evidence to justify concern about its business practices in the three countries — concerns that go beyond initial inquiries and that are serious enough that shareholders needed to be told.
Toshiba said in a statement: "It has been revealed that there has been inappropriate accounting going on for a long time, and we deeply apologise for causing this serious trouble for shareholders and other stakeholders".
SocGen relieved investors by indicating that its 8.7% ratio will rise towards 9.5% by year end, raising the possibility that the bank might soon start returning serious money to shareholders.It is profits that are proving the rub.
"It has been revealed that there has been inappropriate accounting going on for a long time, and we deeply apologise for causing this serious trouble for shareholders and other stakeholders," Toshiba said in a statement.
"It's a serious offer," but shareholders are likely to want to see what Mr. Rose can do before turning to Mr. Green, said Iain McDonald, an analyst with Numis Securities in London.
RIM has not shown much contrition despite serious reservations by shareholders analysts.
They share a serious responsibility to shareholders, long careers ahead of them and they all have XY chromosomes.
"JPMorgan Chase undoubtedly has a serious problem from a shareholder perspective that needs to be addressed through strengthening board oversight," he writes.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com