Thats really the same effect isnt it, they are using dicretionary power to threaten shareholders even if they are exercising their right.
Its still unconscionable to threaten use a position to disadvantage share holders as a means to secure a takeover bid. The fact that they have a right does not give them ancillary rights, to threaten shareholder in order to gain an advantage.
Unconscionable conduct is really a more powerful party threatening another in order to gain a benefit, where or not they have that right to exersise certain discretionary powers is immaterial.
DIO Price at posting:
83.0¢ Sentiment: None Disclosure: Held