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Panasonic could still cobble together a controlling stake, but with the major shareholder out of the negotiating room, the road will be more difficult.
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Clearly, that was not in the interest of the shareholders in out-of-favor funds and, at the very least, raises questions about whether the managers and trustees of those funds have fulfilled their fiduciary responsibilities to shareholders.
Similar realism with the undead Fannie and Freddie would end with shareholders put out of their misery and the companies' obligations counted as the government's.
Frazee was to become Sprint's president and thus was accused of selling shareholders out for the sake of a good job.
Older funds like Tri-Continental, General American Investors and Adams Express have long-standing individual shareholders who-out of misguided loyalty or lack of attention-may ignore a shareholder proposal even if they stand to benefit.
Mr. Black and three former Hollinger executives were convicted of defrauding shareholders out of $6.1 million.
Starr sued in 2011, and maintains that the bailout shortchanged shareholders out of tens of billions of dollars.
Another involved flooding the market with millions of new Yukos shares, diluting Western shareholders out of existence.
Mr. Black was sentenced last week to 6.5 years in prison for defrauding Hollinger shareholders out of $6 million.
Mr. Black and three other former executives from the media empire Hollinger International were convicted of swindling shareholders out of $6.1 million.
A.I.G.'s former leader, Maurice R. Greenberg, filed an amended complaint against the government on Tuesday, largely restating his arguments that 2008 bailout of the insurer was unconstitutional and wrongly cheated shareholders out of billions of dollars.
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