shareholder's derivative action

shareholder's derivative action

n. a lawsuit by a corporation's shareholders, theoretically on behalf of the corporation to protect and benefit all shareholders, against the corporation for improper management. (See: derivative action)

References in periodicals archive ?
The resolution of the State Court Action does not affect the pendency of the shareholder's Derivative Action and Class Action lawsuit pending in Federal Court.
The United States Magistrate Judge issued a Report recommending that the Court grant Milestone's motions to dismiss the counterclaims brought by defendant Spinello for a shareholder's derivative action and civil conspiracy, finding that defendant Spinello had failed "to state a claim upon which relief may be granted.
at the Holiday Inn, 99 Viger Street West, Montreal, Canada, 514/878-9888, to announce a wrongful termination lawsuit and initiate a shareholder's derivative action against Alcan and the parent company, Alcan Aluminium Limited of Canada.