In January, a burglar slipped into our co-op in Hudson Heights, Manhattan, behind a shareholder who was walking out. The theft was reported to the police, but it took the board almost two weeks to notify shareholders. What responsibility does the board have to shareholders in reporting security breaches? The answers to these questions should come from the co-op board, which has a fiduciary responsibility to act in the best interests of the co-op and its shareholders. Shareholders could circulate a petition calling for a special meeting or request permission to attend the next board meeting.

Source: New York Times March 11, 2017 15:00 UTC