Examlex
MBO starts when top managers:
Class Action
A legal proceeding in which one or more plaintiffs file a lawsuit on behalf of a larger group of people who are similarly affected.
Wrongful Act
An act that is illegal or immoral, leading to legal liability or moral condemnation.
Similarly Affected
A phrase used to describe individuals or entities that experience the same or similar impacts from an event or action.
Shareholders
Individuals or entities that own shares in a corporation, giving them certain rights such as voting on corporate matters.
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