Gerald Clark v. Lomas & Nettleton Financial Corporation

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• concluding that because controlling shareholders were defendants, the board was conflicted
• observing that the claims set forth in a derivative suit “belong not to [shareholders] but to [the corporation]” and thus it is generally left to the corporate directors to decide “whether to enforce corporate rights of action”

Source: CourtListener parenthetical corpus (CC0).