Perspective
Apr. 17, 2010
A Blueprint For Defending Derivative Actions
The business judgment rule, when skillfully employed, is a formidable weapon against derivative lawsuits, writes Jeffrey W. Kramer of TroyGould.
Shareholder derivative actions afford shareholders an important vehicle for redressing corporate wrongdoing by company insiders. They may also be used as strike suits by professional plaintiffs and others who hope to create leverage for settlements through expensive and time-consuming litigation and discovery. A recent opinion by the California Court of Appeal provides a blueprint for the successful defense of derivative actions and i...
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