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Stockholders' Derivative Suits In Southern Jurisdictions, W. Jack Williams

Vanderbilt Law Review

The stockholders' derivative suit has been of increasing prominence during the past several decades. As an action in equity instituted by individual stockholders, the suit is representative in nature in that the stockholder prosecutes the action for all stockholders who are similarly situated. Yet, as the suit is in behalf of the corporate entity and not the stockholders personally, it is derivative.'

As in most other areas of corporate law in southern jurisdictions,there exists no comprehensive body of statutory or case law dealing with all facets of stockholders' derivative suits. The greater part of the body of law in this …