Edited by Sean Griffith, Jessica Erickson, David H. Webber and Verity Winship
Chapter 4: The (un)changing derivative suit
The chapter provides an overview of the available empirical data about derivative suits. It contrasts the reform efforts in securities class actions and merger cases with legislative and judicial inaction in derivative suits. Building on the data and history of problems and reform, the chapter proposes additional scrutiny for derivative suits. It identifies mechanisms such as close judicial review of settlements, use of litigation-limiting charter and bylaw provisions, and the imposition of heightened procedural requirements.
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