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I'm not sure what's going on with that post, nor what D&O Diary's motivations for publishing it are, but it's not a remotely accurate description of Ritchie v. Rupe or the lunatic appellate decision ordering a buyout after, in effect, concluding that controlling shareholders' refusal to meet with arbitrary potential (no actual) buyers for fear of liability under the securities laws (without any indication of an attempted freeze or squeeze out) was per se oppression.
I think this probably overestimates the usefulness of what a lot of professors have to say, and also probably overestimates the amount of thinking students who find themselves practicing their court-reporter skills in class are otherwise likely to do. It certainly overestimates the legibility of my handwriting, and my ability to hand-write for long periods of time without my hand tiring -- a skill requiring upkeep that is utterly unjustified by circumstances occurring in the real world. Only in academia is one faced with the sort of capricious clown whose inclination toward petty tyranny extends even to the note-taking habits of the people paying his salary. Or, in any event, academia seems to be the only venue so divorced from consequence that such inclinations are acted upon.
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Sep 4, 2013