reduce securities litigation risk. Further, independent directors’ effectiveness falls with increases in the firm …

A statutory derivative action has been proposed for the United Kingdom and is contained in Part 11 of the Company Law … Reform Bill. Australia has had a statutory derivative action for approximately 6 years. This paper outlines the results of … the first empirical study of the Australian statutory derivative action. The study provides insights into the way …

by the Delaware Supreme Court, which lowered the liability threshold only for directors in derivative litigation over …Does personal litigation risk for independent directors materially affect firm valuation, compensation-related issues … their own equity grants and increased their future litigation risk, to examine these issues. Understanding changes in …

This study focuses on U.S. shareholder derivative cases in which Audit Committee members were defendants. Three grounds … for Audit Committee liability were alleged in those cases: (1) violation of the Fiduciary Duties of Care, Loyalty or Good …