A derivative lawsuit is a lawsuit whereby a shareholder of a corporation sues a third party on behalf of the corporation. Any recovery from such lawsuits are the property of the corporation, not the shareholder who brought the lawsuit. Often times, the defendant of a derivative lawsuit will be someone close to the corporation, such…
Continue reading ›Under Florida law, if a member of an LLC wishes to individually sue another member for damages arising out of the membership, the plaintiff-member must prove: “(1) a direct harm to the … member such that the alleged injury does not flow subsequently from an initial harm to the company and (2) a special injury…
Continue reading ›Disputes among shareholders happen for a wide variety of reasons and if not properly addressed, can result in serious financial and legal problems. In general, the specific rights and responsibilities of shareholders vary according to the particular corporate form as well as the procedures used in implementing and enforcing them. Corporations, partnerships and other business…
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