Does A Lawyer Who Files A Derivative Action Have An Attorney-Client Relationship With The Corporation?
Because the California Corporations Code requires that the business and affairs of a corporation be managed by or under the direction of its board of directors, any decision of whether a corporation should bring suit on behalf of the corporation is ultimately vested in the corporation’s board. Cal. Corp. Code § 300(a). Derivative actions are an exception to this general principle. If Read more...
