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Derivative Actions and Corporate Governance$
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Arad Reisberg

Print publication date: 2007

Print ISBN-13: 9780199204892

Published to Oxford Scholarship Online: January 2009

DOI: 10.1093/acprof:oso/9780199204892.001.0001

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Funding Derivative Actions: Costs and Fees as Incentives to Commence Litigation

Funding Derivative Actions: Costs and Fees as Incentives to Commence Litigation

Chapter:
(p.222) 6 Funding Derivative Actions: Costs and Fees as Incentives to Commence Litigation
Source:
Derivative Actions and Corporate Governance
Author(s):

Arad Reisberg

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199204892.003.0007

This chapter is concerned with costs and fees in derivative actions in the context of incentives for such litigation. It explores the critical role of costs and fees in initiating and maintaining derivative actions. Section 6.2 briefly explicates the economics of derivative action litigation. As part of this, the US rules on derivative action fees are examined. After rehearsing the common law recognition of the problems of the impecunious shareholder in the form of indemnity costs orders, Section 6.3 exposes major flaws in the operation of these orders. In response, possible solutions to rectify the funding problem are examined and assessed in the next chapter. Section 6.4 concludes.

Keywords:   costs and fees, incentives, indemnity costs orders, economics, US

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