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Business Organizations Keyed to Cox
Fogel v. U.S. Energy Systems, Inc.
Citation:
2007 WL 4438978 (2007)Facts
Fogel was chairman and CEO of U.S. Energy. The other directors were Feinstein, Strauss, and Schneider. The three directors formed a consensus that Fogel should be terminated. At a meeting, they asked Fogel to resign but Fogel declined. On July 1, Fogel called a special meeting of the stockholders for the purpose of voting to remove the three non-officer directors and electing their replacements. At a regularly scheduled board meeting, the board formally passed a resolution regarding Fogel’s termination. Thereafter, the board ignored Fogel’s call of a special meeting.
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