Universal Demand (UD) laws by different states. The UD laws substantially raise the hurdle for shareholders to file derivative … sales, after the passage of UD laws, suggesting derivative litigation serves a disciplinary role in curbing insider trading …. The deterrence effect of derivative litigation complements that of federal securities litigation, as it is effective in …

Does managerial entrenchment create or destroy shareholder value? This Article presents both theory and evidence that …, these findings are consistent with the theory that there are significant costs, not just benefits, to exposing managers to …

comprised solely of derivative lawsuits. This provides another unique research opportunity, as most litigation is comprised … almost entirely of only securities class actions or only derivative lawsuits. Thus, it is possible to compare and contrast … securities class actions with derivative lawsuits. This is particularly useful because some question the value of securities …