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Connecticut Supreme Court Issues Significant Decision on Shareholder Derivative Suits

April 15, 2009

On Friday, April 3rd, the Connecticut Supreme Court issued a unanimous 5-0 decision in May v. Coffey, in which it reinforced the principle that shareholders cannot bring a direct suit against a corporation’s officers or directors unless they have suffered an injury that is “separate and distinct” from any injury suffered by the corporation and other shareholders.

CT Supreme Ct Issues Significant Decision on Shareholder Derivative Suits-Bayer.pdf

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