Shareholder Derivative Suits are suits brought by an existing shareholder on behalf of the company against the officers and directors of the company. The cause of action for this kind of suit is grounded on the allege breach of fiduciary duty. Because these kinds of suits are becoming increasingly common and they grow more risky, it would be wise to secure expert and competent corporate lawyers to handle your derivative suit.
A "verified complaint" is a complain that includes an oath by the party bringing the complaint certifying that what is stated in the complaint is true. You should see a "verification" form or area where there is the signature of the person making the statement and a notary stamp for notarization of the signature.
Federal Rules of Civil Procedure 23.1(b) requires that a derivative lawsuit complaint must be verified. This is also true in many other states, including Washington. See Wash Civil Rule 23.1.
"Verification is the confirmation of the correctness, truth or authenticity of the pleadings."
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