Erickson, Jessica --- "The (un)changing derivative suit" [2018] ELECD 1109; in Griffith, Sean; Erickson, Jessica; Webber, H. David; Winship, Verity (eds), "Research Handbook on Representative Shareholder Litigation" (Edward Elgar Publishing, 2018) 58

Book Title: Research Handbook on Representative Shareholder Litigation

Editor(s): Griffith, Sean; Erickson, Jessica; Webber, H. David; Winship, Verity

Publisher: Edward Elgar Publishing

ISBN: 9781786435330

Section: Chapter 4

Section Title: The (un)changing derivative suit

Author(s): Erickson, Jessica

Number of pages: 22

Abstract/Description:

The chapter provides an overview of the available empirical data about derivative suits. It contrasts the reform efforts in securities class actions and merger cases with legislative and judicial inaction in derivative suits. Building on the data and history of problems and reform, the chapter proposes additional scrutiny for derivative suits. It identifies mechanisms such as close judicial review of settlements, use of litigation-limiting charter and bylaw provisions, and the imposition of heightened procedural requirements.