So shareholders at time T are aggrieved at behaviour of management appointed, at least notionally, by shareholders at T - 1 and demand compensation from shareholders at T + 1. If it succeeds the shareholders at time T + 1, who had no responsibility are still being harmed by the old management. What should they do? Sue the shareholders at time T + 2.
In what way, is that reasonable behaviour? By all means sue the management but a company is the collective property of its shareholders. Suits by shareholders are, at best, suits against themselves and at worst suits against another set of shareholders. They really should be deemed contrary to public policy.