White Ex Rel. Banes Co. Derivative Action v. Banes Co. Ex Rel. Estate of Jolly

How courts have described this case

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

• holding that in order to maintain a derivative cause of action, a shareholder must maintain a continuous ownership interest in the corporation
• examining whether the plaintiff knew “when he filed the action” that his complaint was without reasonable cause
• “A shareholder derivative action is a procedure by which the shareholder can assert a right of action on behalf of the corporation when the corporation has refused a properly made demand to enforce the corporation’s rights.” (emphasis added

Source: CourtListener parenthetical corpus (CC0).