Calypso Wireless (fka CLYW)

[Cougar6]

Derivative suit. Can provide for attorney's fees in Texas, where the suit needs to proceed because that is where most of the assets are. But this is a slow process.

"A stockholder's derivative suit is a type of litigation brought by one or more shareholders to remedy or prevent a wrong to the corporation. In a derivative suit, the plaintiff shareholders do not sue on a CAUSE OF ACTION belonging to themselves as individuals. Instead, they sue in a representative capacity on a cause of action that belongs to the corporation but that for some reason the corporation is unwilling to pursue. The real party in interest is the corporation, and the shareholders are suing on its behalf. Most often, the actions of the corporation's executives are at issue. For example, a shareholder could bring a derivative suit against an executive who allegedly used the corporation's assets for personal gain."

Read more: Stockholder's Derivative Suit - Corporation, Shareholder, Plaintiff, and Suits - JRank Articles http://law.jrank.org/pages/10531/Stockholder-s-Derivative-Suit.html#ixzz1edHtRBq4