stockholder's derivative action
Category: Business, LLCs & Corporations → LLCs, Corporations, Partnerships, etc.

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

  • stockholder's derivative action — An action by a stockholder for purpose of sustaining in his own name a right of action existing in corporation itself, where corporation would be an appropriate plaintiff. It is based upon two distinct wrongs: The act whereby corporation was… …   Black's law dictionary

  • derivative action — n: a suit brought by a shareholder on behalf of a corporation or by a member on behalf of an association to assert a cause of action usu. against an officer which the corporation or association has itself failed to assert for its injuries –… …   Law dictionary

  • stockholder's derivative suit — A legal action in which a shareholder of a corporation sues in the name of the corporation to enforce or defend a legal right because the corporation itself refuses to sue. Dictionary from West s Encyclopedia of American Law. 2005. stockholder s… …   Law dictionary

  • stockholder's derivative suit — See derivative action …   Ballentine's law dictionary

  • derivative suit — See stockholder s derivative action; derivative action …   Black's law dictionary

  • derivative — de·riv·a·tive 1 /də ri və tiv/ n: a contract or security that derives its value from that of an underlying asset (as another security) or from the value of a rate (as of interest or currency exchange) or index of asset value (as a stock index) ◇… …   Law dictionary

  • derivative — Coming from another; taken from something preceding; secondary. That which has not its origin in itself, but owes its existence to something foregoing. Anything obtained or deduced from another @ derivative action A suit by a shareholder to… …   Black's law dictionary

  • derivative claim — A claim brought by a member of a company under Part 11 of the Companies Act 2006 in respect of a cause of action vested in the company, and seeking relief on behalf of the company. The procedure for this type of application is set out in CPR 19.9 …   Law dictionary

  • stockholders' representative action — An action brought or maintained by a stockholder in behalf of himself and all others similarly situated. See also stockholder s derivative action …   Black's law dictionary

  • class action — class or representative action A class action provides a means by which, where a large group of persons are interested in a matter, one or more may sue or be sued as representatives of the class without needing to join every member of the class.… …   Black's law dictionary

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