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Home / Courts / 4th Circuit / Commercial – Settlement of direct action renders derivative action moot (access required)

Commercial – Settlement of direct action renders derivative action moot (access required)

Where a direct action brought by the company was resolved in a broad release, and there was no evidence of collusion or bad faith, a derivative action asserting identical or similar claims arising out of the same underlying facts was moot. Background After the Boards of Directors responsible for the management of Oldfield, a residential community in ...

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