3. Close down the underperforming restaurants and pay all cash proceeds in a special dividend to the shareholders. Question 1 You are one of Parly's lawyers. Prior to a planned meeting with Isaiah and Tina, Parly meets with you to advise Icon on its strategy for forcing Sushi-Me to comply with Icon's demands. 1.1 Which disclosure obligations has Icon incurred by buying 10% of Sushi-Me? In your answer, explain whether these obligations will inhibit Icon from buying more shares. Start writing here: (Max. 150 words) 1.2 Advise Parly on the likely outcome of the hedge fund attack. When crafting your answer, consider the role corporate law is likely to play in determining the outcome of this hedge fund attack. In particular, pay close attention to the relevant rules of Delaware corporate law explored in this module and the specific constitutional provisions in Sushi-Me's certificate of incorporation. (Max. 400 words) Start writing here: Question 2 Some policy- and law-makers are concerned that although hedge fund activism may be beneficial (because it ensures that directors and managers are held to account), it may detrimentally affect companies by encouraging directors and managers to focus on the short term, thereby inhibiting them from implementing their long-term strategies for growth and success. With regard to the Sushi-Me scenario, do you think this concern about short termism is justified? (Max. 350 words) Start writing here: