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derivative suit |
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Unlike the more familiar shareholder class-action lawsuits, in which investors sue to recover their own losses, a derivative action is filed against a company's officers by shareholders acting on the company's behalf. The purpose of this Notice is to inform you of the proposed partial settlement (the "Partial Derivative Settlement") of the derivative action and of the hearing to be held by the Court on May 29, 2007 at 8:00 a. Also recent judgments, including last year's $100 million settlement of case against HealthSouth directors and officers and another $200 judgment against AOL Time Warner directors and officers, raise concern that not only will more derivative action suits come to court, but also that the courts appear sympathetic to demands for large monetary settlements. |
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Derivative action
