New York Sample Letter regarding Motion to Dismiss on Shareholder Derivative Claims

• Category: Letters - Legal - Corporations
• State: Multi-State
• Control #: US-0934LTR
• Format: Word; Rich Text

Description

This form is a sample letter in Word format covering the subject matter of the title of the form. Dear [Recipient's Name], I am writing to you on behalf of [Company Name], as registered shareholders, to bring to your attention the Motion to Dismiss which has been filed in response to the shareholder derivative claims raised against our company. We understand that this letter plays a crucial role in informing you about the details of this motion and our position regarding it. In accordance with New York law, specifically section [reference section number] of the [New York Law Code], we have filed the Motion to Dismiss on Shareholder Derivative Claims, seeking a dismissal of the claims raised by certain shareholders. It is important to note that this motion is only applicable in cases where the shareholders assert derivative claims on behalf of the company against directors, officers, or other related parties. There are certain key arguments we have put forth in our Motion to Dismiss, which are outlined below: 1. Lack of Standing: We assert that the plaintiffs lack standing to assert derivative claims on behalf of the company as they fail to meet the strict requirements laid out in New York law. We provide evidence demonstrating that the plaintiffs do not fulfill the necessary criteria to bring such claims. 2. Failure to State a Claim: We argue that even if the plaintiffs have standing, their claims fail to state a legally viable cause of action against our company. We emphasize that the shareholders have not alleged sufficient facts to demonstrate any breach of fiduciary duty or wrongdoing on the part of our company's directors or officers. 3. Business Judgment Rule: We invoke the protection of the Business Judgment Rule, which shields directors and officers from personal liability for decisions made in good faith, without conflicts of interest, and with due care. We argue that all actions taken by our directors and officers were within the scope of their authority and in the best interest of the company. It is important to mention that the laws and regulations surrounding shareholder derivative claims in New York are complex and subject to interpretation. We have consulted with our legal counsel, who have extensive experience in corporate litigation, to provide us with the necessary guidance during this process. Our motion is supported by case precedents and legal arguments that bolster our position. We kindly request your prompt attention to this matter, as it has broad implications for the future of our company and its shareholders. We would appreciate an opportunity to discuss this motion and address any concerns or questions you may have. Furthermore, we believe that a dismissal of these derivative claims is not only in line with New York law but also crucial for the continued success and growth of our company. Thank you for your attention to this matter. We look forward to hearing from you soon. Sincerely, [Your Name] [Your Position] [Company Name]

Dear [Recipient's Name], I am writing to you on behalf of [Company Name], as registered shareholders, to bring to your attention the Motion to Dismiss which has been filed in response to the shareholder derivative claims raised against our company. We understand that this letter plays a crucial role in informing you about the details of this motion and our position regarding it. In accordance with New York law, specifically section [reference section number] of the [New York Law Code], we have filed the Motion to Dismiss on Shareholder Derivative Claims, seeking a dismissal of the claims raised by certain shareholders. It is important to note that this motion is only applicable in cases where the shareholders assert derivative claims on behalf of the company against directors, officers, or other related parties. There are certain key arguments we have put forth in our Motion to Dismiss, which are outlined below: 1. Lack of Standing: We assert that the plaintiffs lack standing to assert derivative claims on behalf of the company as they fail to meet the strict requirements laid out in New York law. We provide evidence demonstrating that the plaintiffs do not fulfill the necessary criteria to bring such claims. 2. Failure to State a Claim: We argue that even if the plaintiffs have standing, their claims fail to state a legally viable cause of action against our company. We emphasize that the shareholders have not alleged sufficient facts to demonstrate any breach of fiduciary duty or wrongdoing on the part of our company's directors or officers. 3. Business Judgment Rule: We invoke the protection of the Business Judgment Rule, which shields directors and officers from personal liability for decisions made in good faith, without conflicts of interest, and with due care. We argue that all actions taken by our directors and officers were within the scope of their authority and in the best interest of the company. It is important to mention that the laws and regulations surrounding shareholder derivative claims in New York are complex and subject to interpretation. We have consulted with our legal counsel, who have extensive experience in corporate litigation, to provide us with the necessary guidance during this process. Our motion is supported by case precedents and legal arguments that bolster our position. We kindly request your prompt attention to this matter, as it has broad implications for the future of our company and its shareholders. We would appreciate an opportunity to discuss this motion and address any concerns or questions you may have. Furthermore, we believe that a dismissal of these derivative claims is not only in line with New York law but also crucial for the continued success and growth of our company. Thank you for your attention to this matter. We look forward to hearing from you soon. Sincerely, [Your Name] [Your Position] [Company Name]