Shareholder Derivative Litigation: Pre-suit Demands from Purported Shareholders | Practical Law

Shareholder Derivative Litigation: Pre-suit Demands from Purported Shareholders | Practical Law

This Article examines the current state of the law with respect to a board of directors' obligations when the shareholder status of a demanding party is unknown at the demand stage prior to shareholder derivative litigation, and provides recommendations to boards faced with this situation.

Shareholder Derivative Litigation: Pre-suit Demands from Purported Shareholders

by William B. Monahan and Adam K. Magid, Sullivan & Cromwell LLP, with Practical Law Litigation
Law stated as at 16 Oct 2014 • USA (National/Federal)
This Article examines the current state of the law with respect to a board of directors' obligations when the shareholder status of a demanding party is unknown at the demand stage prior to shareholder derivative litigation, and provides recommendations to boards faced with this situation.