Or, does it mean that he regrets abandoning his friend and fellow Director in in his time of need? Raines's fate Thursday, but agreed to hold a formal meeting on Sunday. In addition, shareholders are accusing boards of running into the friendly arms of private-equity buyers to escape activist hedge funds, who are trying to oust them through proxy battles. I feared criticism for gratuitous alarmism. That's why a recent ruling by a federal judge hearing two cases against Wells Fargo's officers and directors is both unusual and welcome.
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