Fantasy Company 2000 Pty Ltd ("Fantasy 2000") is an Australian proprietary company. Alfred, Barbara, Charles, Linda, Mark, Nancy and Philip are the directors of Fantasy 2000.

One day Mark is told that a building is for sale in an area he likes, for $30 million. At the next board meeting of Fantasy 2000, Mark tells all the directors about that building being for sale at $30 million. Marks also says that he thinks Fantasy 2000 should buy that building and move Fantasy 2000's headquarters there. Linda asks Mark whether he inspected the building or had anyone inspect the building; Mark answers that he did not inspect the building, but he saw a picture of it and that the building looks nice from the outside. Mark adds that they should not think twice about buying the building because it is in an area he likes. Barbara then informs the board that she wants to keep the board meeting short because the weather is nice, and she is ready to go out for a walk. Alfred says that he also wants to keep the board meeting short because he wants to cook a fancy dinner for his girlfriend with a new oven he recently bought. All the directors talk about ovens for a few minutes. Immediately after talking about ovens, all directors of Fantasy 2000 approve the purchase of the building. Shortly afterwards, Fantasy 2000 goes ahead with the purchase. After buying the building, the directors discover that the building's market value is only $10 million. They also realise that moving Fantasy 2000's headquarters to the building would not be a good idea; so, shortly after buying the building for $30 million, Fantasy 2000 sells the building for $10 million.

Luke, Rose and Mary are shareholders of Fantasy 2000, and they are very upset. Each of them has 10% of the shares in Fantasy 2000. They discuss whether there is anything they could do. Mary's view is that Luke, Rose and herself could apply to the court for leave to bring a statutory derivative action because the directors of Fantasy 2000 breached their duty of care and diligence.

Discuss the accuracy of Mary's view "that Luke, Rose and herself could apply to the court for leave to bring a statutory derivative action because the directors of Fantasy 2000 breached their duty of care and diligence." In your answer: consider and describe all the issues of the problem; show understanding of the relevant law and how it applies to the factual situation; provide your reasoning and analysis; and provide your conclusions.