Perspective
Jun. 19, 2010
In Shareholder Derivative Suits, Determining What Law Governs Isn't Easy
Keith Bishop of Allen Matkins examines a recent case regarding the California Legislature's most significant attempt to impose state corporate law on "pseudo-foreign" corporations.
When suing the directors of a Nevada corporation, it may seem to be a safe bet to assume that Nevada's corporation law applies even when the complaint is filed in California. After all, California Corporations Code Section 2116 provides that the directors of a foreign corporation transacting intrastate business are liable according to any applicable laws of the state of incorporation whether the directors committed acts in Califor...
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