Yarro v. Canopy Hearing Tomorrow

Message ID: 243482
Posted By: ruidhmurphy
Posted On: 2005-03-07 12:55:00
Subject: Yarro v. Canopy Hearing Tomorrow

I do hope we have someone attending. Bob Mimms? Frank Sorenson? Al Petrovsky? Chris Brown? McFly?

Message ID: 243483
Posted By: ruidhmurphy
Posted On: 2005-03-07 13:04:00
Subject: Thoughts on Yarro v. Canopy

If Ray Noorda *is* in fact mentally incompetent and was incompetent on 12/17, this makes a real mess.

My guess is that the court will order that the procedure to replace an incapacitated board member be invoked and Yarro and Noorda both nominate a new director and the two new directors together nominate a third. If the third represents the interests of the ultimate charitable beneficiary of the NFT, then there may be an opportunity to have Yarro's dismissal confirmed by a competent BOD.

Remember this is a Temporary Restraining Order hearing. the standard for judgement is likelihood of winning on the merits and irreversable harm. Yarro probably dosn't have irreversable harm on his side since he probably will be ruled to still be a shareholder. Thus I think it's likely he'll still be out of Canopy management, but Noorda will be off the board.

I hope I'm not just beeing too optimistic.

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