On April 10, 2019, ImmunoCellular (the 'Company'), in its capacity as a nominal defendant, and certain current and former directors and officers of the Company (the 'Individual Defendants') (collectively, 'Defendants') entered into a Stipulation of Settlement in the above-captioned action filed derivatively on behalf of ImmunoCellular, in the Superior Court of the State of California, County of Los Angeles (the 'Court') against the Individual Defendants (the 'Derivative Action
on behalf of the subsidiary may only be maintained by
In a shareholder derivative action
under UK law, the court also has
Ripley-light: Waterston Covenant labours in the shadow of earlier films and has been crudely bolted together by screenwriters John Logan and Dante Harper with derivative action
set-pieces that give birth to a new hybrid of extraterrestrial nasty - the neomorph - with translucent milky skin and a gait more akin to humans.
For instance, Rule 23.1 of the Federal Rules of Civil Procedure empowers "[...] one or more shareholders [...] to bring a derivative action
to enforce a right" of "the corporation" (1).
Shareholders of corporations who have experienced a cybersecurity breach oftentimes file a shareholder derivative action
. In a derivative action
, a shareholder brings suit on behalf of the corporation against third parties, typically "insiders" such as executive officers or board members, asserting these individuals breached their duties of care to the corporation.
Nevertheless, given that the minority shareholders did not seek leave to commence a derivative action
and requested only a personal remedy, their complaint was properly located within the oppression action.
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By law, C generally has no standing to directly sue the other shareholders, but he does have a 'derivative right' to ask the company to sue them."The problem, Pachman added, is that sometimes derivative actions
are nothing more than nuisance suits "undertaken only to obtain a settlement from the company on behalf of the shareholder bringing the action; in fact, there's no benefit to the company itself." This amendment "provides procedures to facilitate the dismissal of spurious actions," he noted.
are lawsuits brought by shareholders, on behalf of a corporation, against a third partyin this case, against Sinova's other two co-owners.
He advises clients on shareholder derivative actions
involving securities laws and class action suits, as well as matters related to breach of fiduciary duty, corporate governance disputes, lender liability, creditors rights, business torts and action plans to minimize financial services litigation risk.