Maine Stockholder derivative actions

State:
Multi-State
Control #:
US-CC-24-301
Format:
Word; 
Rich Text
Instant download

Description

This sample form, a detailed Stockholder Derivative Actions document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.
Free preview
  • Preview Stockholder derivative actions
  • Preview Stockholder derivative actions
  • Preview Stockholder derivative actions

How to fill out Stockholder Derivative Actions?

You can devote several hours online looking for the authorized document template that meets the state and federal needs you need. US Legal Forms supplies a large number of authorized types that are reviewed by experts. You can easily obtain or produce the Maine Stockholder derivative actions from your service.

If you already possess a US Legal Forms account, you can log in and then click the Download switch. Afterward, you can comprehensive, change, produce, or indication the Maine Stockholder derivative actions. Every authorized document template you acquire is your own forever. To acquire yet another duplicate for any bought type, visit the My Forms tab and then click the related switch.

Should you use the US Legal Forms web site initially, stick to the straightforward recommendations below:

  • Very first, make certain you have selected the right document template for your region/metropolis of your liking. Browse the type outline to ensure you have selected the appropriate type. If available, make use of the Review switch to search with the document template too.
  • If you would like locate yet another version in the type, make use of the Search field to obtain the template that fits your needs and needs.
  • Upon having identified the template you would like, click Buy now to continue.
  • Find the prices plan you would like, type in your credentials, and sign up for your account on US Legal Forms.
  • Comprehensive the purchase. You should use your Visa or Mastercard or PayPal account to fund the authorized type.
  • Find the file format in the document and obtain it in your gadget.
  • Make modifications in your document if necessary. You can comprehensive, change and indication and produce Maine Stockholder derivative actions.

Download and produce a large number of document templates using the US Legal Forms Internet site, which offers the most important assortment of authorized types. Use skilled and condition-certain templates to handle your small business or personal requirements.

Form popularity

FAQ

The derivative action is the route by which shareholders, usually minority shareholders, are able to enforce the company's rights where directors have breached their duties (since in these circumstances it is unlikely that the directors, who usually act on behalf of the company, will want to take action).

Remedies commonly sought in derivative actions include corporate governance reforms designed to prevent future fiduciary misconduct, the removal of officers or directors whose misconduct injured the corporation, monetary payments to remedy damages incurred by the company, and repayment of funds obtained illegally.

Firstly, a shareholder has to seek permission from the court to commence derivative proceedings. The court must refuse to grant permission if it considers there is no prima facie case. If permission is not refused at that stage then the court will order the application for permission to be served on the company.

Examples of successful derivative actions may include lawsuits against directors or officers for mismanagement of funds, failure to divulge material information, or breach of fiduciary duty.

A shareholder (stockholder) derivative suit is a lawsuit brought by a shareholder or group of shareholders on behalf of the corporation against the corporation's directors, officers, or other third parties who breach their duties. The claim of the suit is not personal but belongs to the corporation.

A shareholder (stockholder) derivative suit is a lawsuit brought by a shareholder or group of shareholders on behalf of the corporation against the corporation's directors, officers, or other third parties who breach their duties. The claim of the suit is not personal but belongs to the corporation.

A derivative action may be settled, voluntarily dismissed, or compromised only with the court's approval. Notice of a proposed settlement, voluntary dismissal, or compromise must be given to shareholders or members in the manner that the court orders.

What is the difference between a stockholder's derivative suit and a class action? A derivative lawsuit is brought by a shareholder of a corporation for the benefit of the corporation. A shareholder's class action lawsuit is brought by a shareholder for the benefit of themselves and the other shareholders.

Trusted and secure by over 3 million people of the world’s leading companies

Maine Stockholder derivative actions