GOODBYE TO THE CONTEMPORANEOUS OWNERSHIP REQUIREMENT

GOODBYE TO THE CONTEMPORANEOUS OWNERSHIP REQUIREMENT

The General Assembly should amend the Delaware General Corporation Law to eliminate the contemporaneous ownership requirement for derivative actions from section 327. The rule is incoherent and ill-suited to each of the purposes advanced to support it. The rule is also unnecessary, as defendants and...

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Veröffentlicht in:The Delaware journal of corporate law 2008-09, Vol.33 (3), p.673
1. Verfasser: Laster, J Travis
Format: Artikel
Sprache:eng
Schlagworte:
Amendments
Fiduciaries
Ownership
Requirements
State court decisions
State laws
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Beschreibung
Zusammenfassung:The General Assembly should amend the Delaware General Corporation Law to eliminate the contemporaneous ownership requirement for derivative actions from section 327. The rule is incoherent and ill-suited to each of the purposes advanced to support it. The rule is also unnecessary, as defendants and the Delaware courts have ample alternative avenues available for dealing with meritless claims. [PUBLICATION ABSTRACT]
ISSN:0364-9490
1943-7331