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Simple English definitions for legal terms

tainted stock

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A quick definition of tainted stock:

Tainted stock is a type of stock that is owned or transferred by someone who is not allowed to file a lawsuit on behalf of the company. This person is usually disqualified because they have a conflict of interest or have done something wrong. If someone buys tainted stock in good faith, they are also not allowed to file a lawsuit. It's like having a toy that you're not allowed to play with because it's broken or someone else's.

A more thorough explanation:

Definition: Tainted stock refers to stock owned or transferred by a person who is disqualified from serving as a plaintiff in a derivative action. This means that the person cannot sue on behalf of the company because of a conflict of interest or other disqualifying factor.

Example: If a company executive is accused of wrongdoing and owns stock in the company, they may be disqualified from bringing a lawsuit on behalf of the company. Additionally, if someone buys tainted stock from the executive, they too may be disqualified from bringing a lawsuit.

Explanation: Tainted stock can create conflicts of interest and undermine the ability of shareholders to hold the company accountable for wrongdoing. By disqualifying certain individuals from bringing lawsuits, the legal system aims to prevent these conflicts and ensure that lawsuits are brought in the best interests of the company and its shareholders.

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lawguy we're nearly stats twins :D
13:13
I saw that, and I saw you got the Georgetown interview invite yesterday too! Goodluck!
you too haha, i was super surprised to have received one so early not gonna lie
i heard the group interview is really chill and I'm kinda excited to do it
seems cool
13:14
Yeah, 7sage has a page that talks about the questions for each schools interview, GULC's seems unique
13:15
Idk how much of an effect it has on admissions chances but should be cool either way
ive heard the conversion rate for gulc group interview is pretty high even moreso if you have the stats
it's hard to say but i've also heard that the group interview is harder to get than the alumni interview. but who really knows tbh
im p sure they don't interview everyone and getting one this early should be a great sign!
13:16
Yeah I've heard the same ab the group interview
13:17
So maybe I'll see you in D.C. a year from now lmao
initiallaw
13:32
Speaking of stat twins kazuyamishima were exact stat twins lol
17:13
Anyone going to the UGA zoom thing on the 22nd?
17:16
My bad, 24th*
Idk, what's it for?
@Law-Guy: How'd you get the Vandy fee waiver?
17:32
What does going ur3 in 3 days mean at Uva 😅
that you will get UR2 in 3 more
17:33
somethings gotta give
I’m new. What’s the UR and UR2?
17:35
I already went ur2. It’s the 3rd status date change
17:35
@RustyWrangler: attend one of their virtual info sessions and they'll send you a fee waiver
@Law-Guy: Awesome, thanks! I'll sign up rn!
i'm not entirely sure
They've recently been sending a lot of interview invites
It means status change?
17:47
Someone said there is a wl/r wave coming but how can that even be predicted 😭
17:48
Where?
Quillinit
17:50
This is obviously not true for UVA. Past years show they don't send any non A results until December
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