Earlier quoted context omitted.
> Shareholders can literally sue the management if they don't pursue the obligation. Anyone can sue anyone for anything. It’s not remarkable. Now cite even a single case where shareholders sued and won. In reality, the “obligation” you are referencing has basically only ever been relevant in situations where the board or management is taking bribes. I’m not aware of any cases where shareholders won because the compan…
Not for "anything", judge would dismiss a case if they don't see a way it could win in trial. Defendant can file a "motion to dismiss".
For latest example of a stupid lawsuit where this has happened, see Justin Baldoni v. Blake Lively. Baldoni sued Lively and others. After a lot of legal maneuvering, a judge dismissed the case.
But even if it was dismissed, it’s still a fact that Baldoni did sue Lively. You can sue anyone for anything. Doesn’t mean you will get any relief, but you can do it anyway, and in our age of dumb performative lawsuits, many do.