[Spktyr]

It’s a corporation - this does not qualify as conduct allowing lawsuits to pierce the corporate liability shield. You can’t sue the officers specifically as this doesn’t come under the magic categories of “embezzelment” or “gross fiduciary misconduct.”

[RoosterRedux]

Yes. I think it would be difficult to impossible to sue the officers individually for malfeasance or violation of fiduciary responsibility.

But the shareholders can sue the board and, depending on state law, possibly sue the officers as a group.