Background: Our co-op has been in "litigation" for 5 years with three delinquent shareholders. At one point, a deal was reportedly reached with at least one of the delinquents, but a new Board reportedly instructed our attorney not to pursue the case. A new attorney was hired, and no progress has been made for the past two years, as arrears reach a combined total of four years' worth. The Board insists that legal action is "in progress" but it's confidential.
Question: Do the rest of us shareholders have the right to know the exact current status of the lawsuits and to review the file on these issues, including whether or not the Board failed to pursue agreements with the delinquent shareholders? Is the information publicly available in a court record?Thank you.