Sueing a listed company for poor business decisions?

[specuvestor]

You likely wont see this happening in Asia.
They have a more deeply developed corporate governance laws that apply to their companies.
They have a different legal system where it kind of encourages class action lawsuits.
The lawsuit was on gross negligence on not identifying account improprieties, not exactly bad decision per se. Though I have to agree its a fine line but that is what the basis of the suit is about anyway. (Its the difference between whether proper due diligence done or not, so negligence is key.)
If you can prove the CEO did not discharge his duties properly and you can find lawyers to fight it. You can try. Very little legal precedence in this way I believe.

Agree with Scott. In fact i think the only way <10% minorities can get recourse in the companies act is to claim minorities suppression.

Class action is a big swing in the balance of power between corporate and individuals. We don't have it here. That explains a lot.