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stockholder's derivative action |
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stockholder's derivative action n. See derivative action, shareholder's derivative action. |
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This is a stockholder's derivative action brought on behalf of USL by one of its shareholders against its entire board of directors and several of the Corporation's top officers for breach of fiduciary duty in misappropriating and misusing internal, proprietary, non-public, material, adverse corporate information to personally profit by inflating USL's earnings and generating ill-gotten bonuses which were tied to earnings. |
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stockholder's derivative action
