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From the looks of it, the intracorporate dispute among the members of the third generation of the Lopez clan may continue to simmer in spite of the withdrawal by the majority stockholders of their earlier resolution removing Federico “Piki” Lopez as president and CEO of First Gen Corp.
A stockholder of the company asked its board of directors to furnish him copies of all board and committee meetings at which the transaction with Prime Infrastructure Capital Inc. was deliberated upon or approved.
READ: Lopez majority opens door to talks after reversing Piki ouster
He wants to know, among others, whether contentious provisions of the covering contract were adequately disclosed and whether the board performed its duties of due diligence required under the Revised Corporation Code.
