The do’s and don’ts in terms of trying to avoid otherwise unnecessary and/or expensive shareholder litigation.

 

 

John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M

 

Kiritsis Law Group   

212 922 0005

 

Shareholder litigation refers to legal action taken by shareholders against a company, its directors, or other shareholders. Shareholder litigation can arise in a variety of contexts, such as disputes over corporate governance, management decisions, or alleged breaches of fiduciary duty.

 

One common type of shareholder litigation is derivative action, in which shareholders bring a lawsuit on behalf of the company against the directors or other parties who may have caused harm to the company. Derivative actions allow shareholders to hold company officials accountable for their actions and seek damages or other remedies on behalf of the company.

 

Another type of shareholder litigation is class action, in which a group of shareholders bring a lawsuit against the company or its directors on behalf of themselves and other similarly situated shareholders. Class actions are typically used in cases where the damages suffered by each individual shareholder are relatively small, but the total damages suffered by the class as a whole are significant.

 

Shareholder litigation can also involve disputes between shareholders, such as disputes over the distribution of dividends, the sale of company assets, or the dissolution of the company. In these cases, the shareholders may seek damages or other remedies for breach of contract, breach of fiduciary duty, or other legal claims.

 

Shareholder litigation can be complex and time-consuming, and it can have significant consequences for the company and its shareholders. As a result, it is important for shareholders to seek legal advice and representation if they are considering bringing a lawsuit against the company or its directors.

 

Shareholder litigation can also be a costly and risky proposition, as the outcome of the lawsuit is uncertain and the legal fees can be substantial. However, in some cases, shareholder litigation may be necessary to protect the interests of the shareholders and ensure that the company is being properly managed.

 

Overall, shareholder litigation is a tool that can be used to address disputes and hold companies and their directors accountable for their actions. However, it is important for shareholders to carefully consider the risks and costs of litigation before deciding to pursue it.

 

 

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The views expressed by this author are not legally binding or reflective of the author, the author’s firm, the author’s employers, the author’s employees, or any individual and/or organization.