I don't think so. You would get 12(b)(6)ed right out of court because no court is going to tell a company how to run its business. About the ONLY time you can sue the company's executives for a violation of fiduciary duty is in a case of fraud.
They are running the business in good faith. Unless you allege wrongdoing, you will lose a 12(b)(6) motion.
You're wrong, in a way. As you know, the Business Judgment Rule only applies if you make a demand on the board. Here, you don't have to because of futility.
The only way the NYT would get the deferential "Business Judgment" standard would be to appoint a "Special Litigation Committee." And that would cost the BIG TIME and give them all sorts of bad press.
where was the "sarcasm" tag?
Courts have been gleefully doing just that for at least my entire lifetime.
And, you are wrong on the law as well. See the following cases:
e.g.,
Eisenberg v. Flying Tiger Line, Inc.
Grimes v. Donald
Marx v. Akers
Auerbach v. Bennett
Zapata Corp. v. Maldonado