I have got to say that is one pretty ridiculous argument. If Apple leaks its earnings to some people is that okay, even if in the end after it releases its earnings to the street the stock price does not move?? Of course not. There is no question a vote of this magnitude was material. If the Board was changed, the entire direction of the company was to change.

There are good Boards which challenge management, and make sure proper governance is taking place and then there is FNC's Board. What disturbed me the most about Granger's allegations were how the Board reacted, when they were advised of matters, how press releases were simply disseminated. No one said Peter is a bad geologist, what is bad is how he is being governed. The Board is there to represent you the shareholder...are they doing a good job?