In January 2016, the directors of Superbank Plc decided that Superbank should acquire Readyloans Ltd. Superbank's directors called a meeting of Superbank's shareholders to approve the proposed acquisition. At the meeting, a number of shareholders, including Arthur, strongly opposed the acquisition, claiming the price being paid for Readyloans was too high. The directors reassured the shareholders that they had investigated Readyloans very carefully, and that it was worth far more than the price Superbank was paying to acquire it. A majority of shareholders then voted to approve the purchase, although a substantial number of shareholders, including Arthur, voted against. The directors, who together own 10% of Superbank's shares, voted to approve the purchase.
By May 2016, it was clear that Readyloans was worth much less than the price Superbank paid to acquire it. Superbank's shares have fallen massively in value. The directors of Superbank accept they were negligent in failing to appreciate the true value of Readyloans.
Advise Arthur whether he could bring a personal action against the directors for the fall in the value of his shares. (In answering this question, please consider the responsibilities of the directors towards the shareholders and the company itself)