Seriously, does anyone know if anything like this could happen? I'd at least love to see them pay back some of their ill gotten gains.
There must be some avenue to pursue an incompetent board who put the business, staff, wellbeing of so many in such peril?
Found this:
Because directors owe their duty to the company,
shareholders can only bring a claim in the company's name and for its loss, not for personal benefit. Derivative actions are limited to prevent shareholder abuse. Any action must be in the company's best interests, and the shareholder must act in good faith.
Punishments available;
Criminal sanctions that could include imprisonment for anti-competitive conduct, acting in bad faith or dishonestly; Civil sanctions, such as fines; Disqualification from your position as director; and/or; Commercial consequences that include placing at risk your company's reputation and assets.