Transactions
Dec. 31, 2014
Don't ignore 'demanding' pre-litigation procedures
Recent cases from California and Delaware tell us that a shareholder's filing a derivative action without first complying with the pre-litigation demand procedures may result in a dismissal. By Lynda Chung
Recent cases from California and Delaware tell us that a shareholder's filing a derivative action without first complying with the pre-litigation demand procedures may result in a dismissal.
In a derivative action, the plaintiff acts as the corporation's representative prosecuting the corporation's claim against third parties (often officers or directors of the company) who allegedly harmed the corporation. To attain "rep...
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