September 03, 2009

Derivative Actions and Notice of Compromise

Rule 23.1(c) of the Federal Rules of Civil Procedure governs the settlement of shareholder derivative litigation. All too often, the unique corporate governance issues implicated by derivative actions are outside the expertise and comfort levels of many judges. What is the notice requirement of FRCP 23.1(c) and how have courts exercised their discretion in requiring notice of settlements and voluntary dismissals in shareholder derivative litigation? Read More.

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