Business Law

Owner of Closely Held Corporation Must Use Derivative Action to Sue Director

, The Legal Intelligencer

   | 0 Comments

An individual owner of a closely held corporation may not directly sue a director over alleged breach of duty to the company, the state Superior Court has ruled, holding that under Pennsylvania law such an action should be pursued as a derivative action on behalf of the corporate entity.

What's being said

Comments are not moderated. To report offensive comments, click here.

Preparing comment abuse report for Article# 1202643095107

Thank you!

This article's comments will be reviewed.