Six Degrees of Separation: from derivative suits to shareholder class actions
http://dx.doi.org/10.5007/2177-7055.2016v37n73p37 Trans-individual litigation has revolutionized modern law. Specifically, corporate law has partaken in this phenomenon. For instance, derivative suits allow individuals to sue for a large collectivity in relation to corporate matters. This paper aim...
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| Format: | Article |
| Language: | deu |
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Universidade Federal de Santa Catarina
2016-08-01
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| Series: | Sequência: Estudos Juridicos e Politicos |
| Subjects: | |
| Online Access: | https://periodicos.ufsc.br/index.php/sequencia/article/view/45590 |
| _version_ | 1819015210903535616 |
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| author | Ángel R. Oquendo |
| author_facet | Ángel R. Oquendo |
| author_sort | Ángel R. Oquendo |
| collection | DOAJ |
| description | http://dx.doi.org/10.5007/2177-7055.2016v37n73p37
Trans-individual litigation has revolutionized modern law. Specifically,
corporate law has partaken in this phenomenon. For instance, derivative suits allow individuals to sue for a large collectivity in relation to corporate
matters. This paper aims to analyze this derivative suits, comparing then to shareholder class actions, explaining that the two procedures resemble each other only superficially and that they diverge from each other on a more profound level. Derivative suits aim at the vindication of a genuinely collective and indivisible right, while shareholder class actions seek to enforce an aggregation of individual entitlements. Consequently, these mechanisms also differ in the kind of representation they entail, in the
objective they pursue, in how they construct fairness internally, and in how they approach the central problem of adequacy of representation. An appreciation of this dichotomy contributes to an understanding not only of the inner workings of each of these two devices but also of the corporation itself and of the relationship among the corporate entity, the board of directors, the investors, and even the stakeholders. In addition, it suggests the need for a new interpretation of the key distinction between both actions one should focus on the nature of the right at stake. |
| first_indexed | 2024-12-21T02:28:07Z |
| format | Article |
| id | doaj.art-ef6f36c2661a47deaa2731031c64af50 |
| institution | Directory Open Access Journal |
| issn | 0101-9562 2177-7055 |
| language | deu |
| last_indexed | 2024-12-21T02:28:07Z |
| publishDate | 2016-08-01 |
| publisher | Universidade Federal de Santa Catarina |
| record_format | Article |
| series | Sequência: Estudos Juridicos e Politicos |
| spelling | doaj.art-ef6f36c2661a47deaa2731031c64af502022-12-21T19:18:59ZdeuUniversidade Federal de Santa CatarinaSequência: Estudos Juridicos e Politicos0101-95622177-70552016-08-013773377410.5007/4559025869Six Degrees of Separation: from derivative suits to shareholder class actionsÁngel R. Oquendo0University of Connecticut - School of Lawhttp://dx.doi.org/10.5007/2177-7055.2016v37n73p37 Trans-individual litigation has revolutionized modern law. Specifically, corporate law has partaken in this phenomenon. For instance, derivative suits allow individuals to sue for a large collectivity in relation to corporate matters. This paper aims to analyze this derivative suits, comparing then to shareholder class actions, explaining that the two procedures resemble each other only superficially and that they diverge from each other on a more profound level. Derivative suits aim at the vindication of a genuinely collective and indivisible right, while shareholder class actions seek to enforce an aggregation of individual entitlements. Consequently, these mechanisms also differ in the kind of representation they entail, in the objective they pursue, in how they construct fairness internally, and in how they approach the central problem of adequacy of representation. An appreciation of this dichotomy contributes to an understanding not only of the inner workings of each of these two devices but also of the corporation itself and of the relationship among the corporate entity, the board of directors, the investors, and even the stakeholders. In addition, it suggests the need for a new interpretation of the key distinction between both actions one should focus on the nature of the right at stake.https://periodicos.ufsc.br/index.php/sequencia/article/view/45590trans-Individual litigationDerivative suitsShareholder class action |
| spellingShingle | Ángel R. Oquendo Six Degrees of Separation: from derivative suits to shareholder class actions Sequência: Estudos Juridicos e Politicos trans-Individual litigation Derivative suits Shareholder class action |
| title | Six Degrees of Separation: from derivative suits to shareholder class actions |
| title_full | Six Degrees of Separation: from derivative suits to shareholder class actions |
| title_fullStr | Six Degrees of Separation: from derivative suits to shareholder class actions |
| title_full_unstemmed | Six Degrees of Separation: from derivative suits to shareholder class actions |
| title_short | Six Degrees of Separation: from derivative suits to shareholder class actions |
| title_sort | six degrees of separation from derivative suits to shareholder class actions |
| topic | trans-Individual litigation Derivative suits Shareholder class action |
| url | https://periodicos.ufsc.br/index.php/sequencia/article/view/45590 |
| work_keys_str_mv | AT angelroquendo sixdegreesofseparationfromderivativesuitstoshareholderclassactions |