Below is the first part of an article by Bill Kenealy from businessinsurance.com. It reads…
ORLANDO, Fla. — Shareholder derivative litigation is replacing class action lawsuits as the primary legal exposure for directors and officers and their insurers, legal experts said.
Steven Boughal, New York-based vice president at The Hartford Financial Services Group Inc., noted during a Tuesday panel discussion at the Professional Liability Underwriting Society’s 26th international conference that while derivative suits were popular in 1970s, class actions had supplanted derivative suits until recently.
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