ERHC Energy Inc (ERHE)

[rocky822]

Nevermind, lbm, I found the answer. For others who are curious, here it is:

What is a derivative action?
A derivative action is a lawsuit brought by a shareholder of a corporation, on behalf of the corporation, to enforce a cause of action against a third party, such as an officer or director of that corporation. Derivative actions are brought when a corporation possesses, but does not enforce, its rights against third parties. It is often necessary for a shareholder to institute a derivative action because the corporation, which is run by officers and directors, will not bring a lawsuit against one of their own, even if there has been serious wrongdoing.

What types of charges are filed in a derivative lawsuit?
Derivative actions most often involve charges that officers and directors are wasting corporate assets, or that a corporation's management or board of directors breached fiduciary duties owed to shareholders by negligence, mismanagement or self-dealing.

http://www.blbglaw.com/html/secfaqs.html#eighteen