Securities
Apr. 7, 2006
Court Weighs Whether Mergers Wipe Out Derivative Actions
Focus Column - By John A. Reding, Edward Han, and Sean D. Unger - On Jan. 4, the California Supreme Court granted review of Grosset v. Wenaas , previously published at 133 Cal.App.4th 710 (2005). In Grosset , the Court of Appeal held that continuous stock ownership is required in a derivative action such that a plaintiff-shareholder loses standing after the corporation merges with another corporation.
By John A. Reding, Edward Han, and Sean D. Unger
On Jan. 4, the California Supreme Court granted review of Grosset v. Wenaas, previously published at 133 Cal.App.4th 710 (2005). In Grosset, the Court of Appeal held that continuous stock ownership is required in a derivative action such that a plaintiff-shareholder l...
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