In almost every takeover, the purchaser has been able to make the assets of the company more profitable and productive than the previous, entrenched management could.

Shareholder advocacy groups of this kind are increasingly seeking to speak directly to boards to shake up entrenched management.

"This country faces a great problem with entrenched management," he added.

"There is no entrenched management here," he added.

What has turned into a national debate on entrenched management versus investor greed is playing out in a rapidly changing corporate environment.

And as the Norton case demonstrates, entrenched managements will not shy away from manipulation, even when they know those manipulations will become obvious.

"You could call us the antithesis of entrenched management."

"That upsets some people, particularly entrenched managements and their advisers."

He will not hear of reincorporating in Delaware, where the laws are stacked in favor of entrenched management.

"I am hopeful that our legal system will see through this latest sophisticated development in long-term shareholder disenfranchisement by entrenched management and stop it."