Retaining counsel in order to scrutinize the BoD regarding their Fiduciary Responsibilities would cost around $200K... attempting to place a proxy solicitation is approx 5% of your estimate.. or around $10 grand.. depending on how far you want to take the appeal process via the SEC.. but there are strict guidelines which must be followed.

This I know

Regardless... Good luck to anyone atempting to get a BoD ouster vote on the Proxy.. but everyone does have a vote for or against already