Joshua H. Grabar’s Article, “Shareholder Litigation in The Age of Financial and Social Responsibility,” is Published by Engaging Local Government Leaders (ELGL)

In securities class actions, plaintiffs bring a suit as a class seeking compensation from defendants for damages resulting from a loss in a stock’s value. Often, the same core underlying facts that support a securities class action can give rise to a shareholder derivative lawsuit in which shareholders sue corporate executives and their board on behalf of the company itself, seeking damages to be returned to the corporate entity as well as corporate governance reforms. In each instance, municipal entities often take the role of lead litigant.  Recently, shareholder derivative cases have brought about meaningful governance reforms in the wake of social, environmental and public health wrongs.  Institutional investors, such as municipal entities, have played a significant role in bringing these settlements to fruition.

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