Rhode Island 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. [Your Name] [Your Address] [City, State, Zip] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Position] [Rhode Island State Court] [Court Address] [City, State, Zip] Re: [Case Name and Number] Motion to Dismiss Shareholder Derivative Claims Pursuant to [Applicable Statute or Rule] Dear [Recipient's Name], I hope this letter finds you well. I am writing on behalf of my client, [Shareholder's Name], who is a shareholder of [Company Name]. I am hereby submitting this letter in support of our Motion to Dismiss the Shareholder Derivative Claims filed against [Company Name] in the above-mentioned case. Background and Legal Framework: 1. [Provide a brief overview of the company and its operation in Rhode Island, including its structure, size, and shareholder composition.] 2. [Explain the concept of shareholder derivative claims and their purpose, emphasizing that they involve allegations of harm to the corporation, rather than individual shareholders.] 3. [Cite relevant Rhode Island statutes or rules governing shareholder derivative claims, explaining their requirements and procedures.] 4. [Discuss any existing case law or precedent in Rhode Island that supports our position.] Grounds for Dismissal: 1. Lack of Standing: [Explain why the plaintiff lacks standing to assert shareholder derivative claims based on their failure to comply with statutory prerequisites or lack of ownership interests in the company.] 2. Failure to Make Demand: [Argue that the plaintiff failed to make a proper pre-suit demand on the board of directors or justify why such demand was excused, thus violating the demand futility doctrine.] 3. Failure to Allege Particularized Claims: [Highlight the plaintiff's failure to state particularized facts demonstrating harm to the company and resulting injury to shareholders, as required under Rhode Island law.] 4. Business Judgment Rule: [Explain how the defendants' actions or decisions fall within the purview of the business judgment rule, which presumes directors and officers acted in the best interests of the company.] Relief Sought: In light of the aforementioned grounds, we respectfully request that the court grant our Motion to Dismiss the Shareholder Derivative Claims in their entirety and dismiss [Company Name] from this lawsuit. We further seek an award of reasonable attorney's fees and costs incurred in defending against these baseless claims. Enclosed Documents: — Notice of Motiodismissesis— - Memorandum of Law in Support of Motion to Dismiss — Affidavit of [Shareholder's Name— - Supporting Exhibits (if applicable) Conclusion: Thank you for your attention to this matter. We firmly believe that our client's motion is supported by sound legal arguments and would greatly appreciate the court's consideration. Please do not hesitate to contact me if you require any further information or have any questions related to this motion. Sincerely, [Your Name] [Your Law Firm's Name] [Attorney for [Shareholder's Name]]

[Your Name] [Your Address] [City, State, Zip] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Position] [Rhode Island State Court] [Court Address] [City, State, Zip] Re: [Case Name and Number] Motion to Dismiss Shareholder Derivative Claims Pursuant to [Applicable Statute or Rule] Dear [Recipient's Name], I hope this letter finds you well. I am writing on behalf of my client, [Shareholder's Name], who is a shareholder of [Company Name]. I am hereby submitting this letter in support of our Motion to Dismiss the Shareholder Derivative Claims filed against [Company Name] in the above-mentioned case. Background and Legal Framework: 1. [Provide a brief overview of the company and its operation in Rhode Island, including its structure, size, and shareholder composition.] 2. [Explain the concept of shareholder derivative claims and their purpose, emphasizing that they involve allegations of harm to the corporation, rather than individual shareholders.] 3. [Cite relevant Rhode Island statutes or rules governing shareholder derivative claims, explaining their requirements and procedures.] 4. [Discuss any existing case law or precedent in Rhode Island that supports our position.] Grounds for Dismissal: 1. Lack of Standing: [Explain why the plaintiff lacks standing to assert shareholder derivative claims based on their failure to comply with statutory prerequisites or lack of ownership interests in the company.] 2. Failure to Make Demand: [Argue that the plaintiff failed to make a proper pre-suit demand on the board of directors or justify why such demand was excused, thus violating the demand futility doctrine.] 3. Failure to Allege Particularized Claims: [Highlight the plaintiff's failure to state particularized facts demonstrating harm to the company and resulting injury to shareholders, as required under Rhode Island law.] 4. Business Judgment Rule: [Explain how the defendants' actions or decisions fall within the purview of the business judgment rule, which presumes directors and officers acted in the best interests of the company.] Relief Sought: In light of the aforementioned grounds, we respectfully request that the court grant our Motion to Dismiss the Shareholder Derivative Claims in their entirety and dismiss [Company Name] from this lawsuit. We further seek an award of reasonable attorney's fees and costs incurred in defending against these baseless claims. Enclosed Documents: — Notice of Motiodismissesis— - Memorandum of Law in Support of Motion to Dismiss — Affidavit of [Shareholder's Name— - Supporting Exhibits (if applicable) Conclusion: Thank you for your attention to this matter. We firmly believe that our client's motion is supported by sound legal arguments and would greatly appreciate the court's consideration. Please do not hesitate to contact me if you require any further information or have any questions related to this motion. Sincerely, [Your Name] [Your Law Firm's Name] [Attorney for [Shareholder's Name]]