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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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Pursuing the Resolution of the Funding Problem

Pursuing the Resolution of the Funding Problem

(p.244) 7 Pursuing the Resolution of the Funding Problem
Derivative Actions and Corporate Governance

Arad Reisberg

Oxford University Press

This chapter examines four possible avenues to rectify the economic impediments to derivative actions. The first two focus on short-term solutions and involve the company and the claimant shareholder. Section 7.2.1 considers making a mandatory requirement for the company to pay the costs of the action. Section 7.2.2 then looks at the merits and demerits of rewarding the shareholder with part of the proceeds of a successful action. The last two sections concentrate on solutions in which the risk of loss is shifted on to the claimant's attorney. Section 7.3 explores new possibilities in the guise of conditional fee agreements; Section 7.4 assesses the possibility of adopting a US-style contingency fees in the limited context of derivative actions. Section 7.5 concludes.

Keywords:   resolution, funding problem, mandatory requirement, rewarding the shareholder, conditional fee agreements, US-style contingency fees

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