Business Litigation Attorney in Oakdale, Minnesota
What is a derivative lawsuit?
What is a derivative lawsuit?
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when an owner of a company or
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corporation has been wronged or there’s
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been wrong to the company
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that owner whether it be a shareholder
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or a member can bring a claim can bring
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a derivative action on behalf of the
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company or corporation they essentially
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step into the shoes of the corporation
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of the company and so their power to
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bring that claim is derived
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so derivative from their ownership in
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the company it’s a way in which
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oftentimes minority members or minority
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shareholders can have a checks and
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balance on wrongdoing that those in
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control of the corporation or company
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have done to the company and it’s a way
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in which
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oftentimes a minority member minority
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shareholder can ensure that there’s
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redress for that wrong you’re stepping
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into the shoes of the corporation the
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company and it’s called a derivative
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action because you’re driving your power
00:57
to do so from your ownership
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Oakdale, MN commercial litigation attorney Brandon Schwartz explains what a derivative lawsuit is.
