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The Power Struggle Between Shareholders And Directors: The Demand Requirement In Derivative Suits, Tamar Frankel, Wayne M. Barsky
The Power Struggle Between Shareholders And Directors: The Demand Requirement In Derivative Suits, Tamar Frankel, Wayne M. Barsky
Faculty Scholarship
This article examines the demand shareholders must make on a corporation's board of directors prior to bringing a derivative suit. ... Presented with the question of whether the court would give effect to a decision of a committee of disinterested directors to terminate a shareholder derivative suit alleging directors' breach of fiduciary duties, the court ruled that even if the special committee was truly disinterested and independent, "[t]he Court should determine, applying its own independent business judgment, whether the [corporation's] motion [to dismiss the derivative action] should be granted." ... A derivative suit is one of the means for conducting …
The Business Judgment Rule In The Context Of Termination Of Derivative Suits By Independent Committees, James D. Cox, Donald E. Schwartz
The Business Judgment Rule In The Context Of Termination Of Derivative Suits By Independent Committees, James D. Cox, Donald E. Schwartz
Faculty Scholarship
No abstract provided.