District of Columbia Stockholder derivative actions
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How to fill out Stockholder Derivative Actions?
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FAQ
The plaintiff shareholder brings his own claim in his own name to vindicate the violation of legal duties to himself and seeking a legal remedy for his own benefit. "Derivative" claims are very different. The cause of action in a derivative claim belongs to the corporation, not the shareholder.
A shareholder (stockholder) derivative suit is a lawsuit brought by a shareholder or group of shareholders on behalf of the corporation against the corporation's directors, officers, or other third parties who breach their duties. The claim of the suit is not personal but belongs to the corporation.
A shareholder (stockholder) derivative suit is a lawsuit brought by a shareholder or group of shareholders on behalf of the corporation against the corporation's directors, officers, or other third parties who breach their duties. The claim of the suit is not personal but belongs to the corporation.
Examples of successful derivative actions may include lawsuits against directors or officers for mismanagement of funds, failure to divulge material information, or breach of fiduciary duty.
In British Columbia, Canada, the derivative action is a legal mechanism that allows shareholders to bring a lawsuit on behalf of a corporation against its directors or officers for breach of fiduciary duty or other wrongdoing.
What is the difference between a stockholder's derivative suit and a class action? A derivative lawsuit is brought by a shareholder of a corporation for the benefit of the corporation. A shareholder's class action lawsuit is brought by a shareholder for the benefit of themselves and the other shareholders.
The derivative action is the route by which shareholders, usually minority shareholders, are able to enforce the company's rights where directors have breached their duties (since in these circumstances it is unlikely that the directors, who usually act on behalf of the company, will want to take action).