The Right To Shareholder Action In Wash.

Law360, New York (June 15, 2009, 12:00 AM EDT) -- Shareholders increasingly use derivative lawsuits to assert claims against a corporation's directors and officers.

On May 21, 2009, the Washington Supreme Court handed down an important decision supporting the right of shareholders of Washington corporations to bring derivative lawsuits in some circumstances without first requesting relief from the company's board of directors. In re F5 Networks Derivative Litigation, No. 81817-7, 2009 WL 1412279 (Wash. May 21, 2009).

Expressly following Delaware law, the Washington Supreme Court rejected arguments by directors and officers of F5 Networks that shareholders...
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