Before Filing a Derivative Lawsuit,shareholders Must

question 25

Multiple Choice

Before filing a derivative lawsuit,shareholders must

• A)notify the board that the corporation has been wronged and ask the board to bring suit in the name of the corporation directly.
• B)notify the Secretary of State that the corporation has been wronged and ask the Attorney General to file the lawsuit on behalf of the corporation.
• C)hold a special meeting, and a majority of the shareholders must vote to file the lawsuit.
• D)place the lawsuit on the company's proxy statement, and the proposal must receive a majority vote.

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