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Re: mordicai post# 71156

Friday, 03/16/2007 9:27:06 AM

Friday, March 16, 2007 9:27:06 AM

Post# of 82841
Mordicai, have seen your postings on whaiq. You seem to have quite a bit of legal knowledge. What about a derivative lawsuit at this point?

For those who are unfamiliar with these:
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.



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