GlobeNewsWire
29 Jun 2026, 11:41 UTC · 2h ago
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RBCH Ltd. has filed a derivative action in the New York Supreme Court alleging the Brera board breached fiduciary duties through conflicted security issuances. — Legal challenges regarding fiduciary breaches and conflicted transactions create significant corporate governance risk and potential liability for the company.
-0.60Four of five Brera directors would have failed re-election at the AGM if not for shares awarded to two directors via a contested Registered Direct Offering. — This reveals a severe disconnect between the board and independent shareholders, signaling internal instability and a lack of external confidence in management.
-0.50The contested Registered Direct Offering issued shares to two directors at $4.97, approximately 34% of the company's reported net asset value of $14.70 per share. — Issuing equity at a steep discount to NAV to insiders is generally viewed as highly dilutive and predatory toward existing shareholders.
-0.40Continue reading
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The company is facing a derivative lawsuit and allegations of board entrenchment and breach of fiduciary duties.
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