Caplan signed off. He participated and went along with the program, reluctantly or not.
Agreed, the BoD may have made a bad decision (though again, what were their options?). IMO, they did make a bad decision. But then, as always, only they know the full complexity, urgency, etc. of the situation at the time.
Would you rather they pushed back, gone back to court and either lost, or won and then experienced the legal delay tactics of DL/Moore for years on end? That's the one option I'm aware of, and it wouldn't have been pretty. I strongly suspect that Moore/DL made a "this or back to court" proposal. What to do? What would be best for shareholders? IMO, not an easy decision. And they didn't have much leverage, the way the court battle had gone. No leverage, less than desirable deal.
And if they had "won" in court, what would they have won? Most likely a 50% stake in the MMP as "co-inventor". Then there was perhaps the possibility of losing in court, and having a 0% stake in the MMP.
FWIW,
SGE
