California Supreme Court Affirms "Continuous Stock Ownership Requirement" for Plaintiffs in Derivative Shareholder Litigation

by Beth S. Brinkmann View Biography
Morrison & Foerster LLP View Firm Credentials
Washington Office

Marc Hearron
Morrison & Foerster LLP View Firm Credentials
San Francisco Office

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April 11, 2008

Previously published on February 2008

The California Supreme Court ruled today in Grosset v. Wenaas, No. S139285 (February 14, 2008), that California law includes a "continuous stock ownership requirement" for plaintiffs in derivative shareholder actions. The Court held that a plaintiff's loss of shareholder status at any...

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California Supreme Court Affirms "Continuous Stock Ownership Requirement" for Plaintiffs in Derivative Shareholder Litigation

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