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LSDefine

Simple English definitions for legal terms

derivative suit

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A quick definition of derivative suit:

A derivative suit is a type of lawsuit where a shareholder sues a third party on behalf of a corporation because the corporation failed to take action against the third party. It is also called a shareholder derivative suit or stockholder derivative suit. Another type of derivative suit is when someone sues on behalf of another person who was injured by a third party, such as a husband suing for loss of companionship because his wife was injured by someone else.

A more thorough explanation:

A derivative suit is a legal action brought by a shareholder on behalf of a corporation against a third party, usually a corporate officer, for failing to take action against them. This type of lawsuit is also known as a shareholder derivative suit, stockholder derivative suit, or representative action.

For example, if a corporation's CEO is accused of embezzlement and the board of directors fails to take action, a shareholder can file a derivative suit on behalf of the corporation to recover damages from the CEO.

It's important to note that a derivative suit is different from a direct action, which is a lawsuit brought by an individual to recover damages for their own injuries. In a derivative suit, the shareholder is seeking to enforce a right belonging to the corporation.

derivative settlement | derivative title

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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