Law360, New York (May 09, 2012, 2:02 PM ET) -- Under well-established Minnesota corporate law, any company — whether publicly traded or closely held — when presented with a demand by a shareholder to pursue a derivative claim, may respond by establishing a special litigation committee.[1]
Once appointed, the special litigation committee’s job is to conduct an investigation and make a determination whether the legal rights or remedies of the corporation have been violated and whether such rights and remedies should be pursued. A court must then defer to that determination and dismiss such claims if...
Pros And Cons Of SLCs
To view the full article, take a free trial now.
