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Loren
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Is there any advantage to filing a derivative action? Or

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Is there any advantage to filing a derivative action?
Or in turning everything over to the states attorney?
I understand i will need to name all three parties, the director (my father), his new wife, and former corporate council, in order to have control of the corp placed with a trustee during the procedure. Also to prevent the former corp council from acting as private council for this action.
Submitted: 1 year ago.
Category: Business Law
Expert:  Loren replied 1 year ago.
Thank you for using JustAnswer. I am JudgeLaw and I will do whatever I can to answer your question and provide you excellent service.

Well, they are really 2 different things. Turning over everything to the state attorney would be to get criminal charges filed against the offending parties.

A derivative suit is a civil suit brought by a shareholder against a third party on behalf of the corporation.

I really could not say that one has advantages over the other. They are not mutually exclusive and each has its own function.

JudgeLaw
Customer: replied 1 year ago.
I'm sorry I didn't actually phrase my question correctly. What I meant was is there any advantage in these circumstances in filing a derivative suit as compared to a regular civil action?

If going through the states attorney is a criminal direction I guess that's not an option? You mentioned before you weren't confident I could prove criminal charges with this case.
Expert:  Loren replied 1 year ago.
By definition, any suit you bring as a shareholder on behalf of the corporation is a derivative action. That is the basis for your standing to sue.

You are really getting into the finer details here. This is why I strongly recommend that you retain local counsel to proceed. It is not really something a layperson can do on their own.

JudgeLaw
Customer: replied 1 year ago.
I have been trying and would most certainly do so but so far I would need a 20k retainer and I don't have those funds :-(. I'm reading through the forms at the clerk of courts website now.
Expert:  Loren replied 1 year ago.
I understand. I am happy to help you and continue answering your questions. I am just pointing out that there limits to what can be accomplished in this type of exchange, both from a legal and logistical standpoint.

However, you may want to try the Florida Bar Lawyer Referral. For $25 you can get a 1/2 hour consultation with a local attorney.
http://www.floridabar.org/divpgm/lronline.nsf/wreferral6?OpenForm

JudgeLaw
Customer: replied 1 year ago.
Thank you so very much. Your help with information and compassionate manner are most supportive. The council who requires a 20k retainer was the only one listed in my area from the Florida Bar Referral service.

I would very much appreciate your help with another question. I will close this one after I make a deposit this morning so I can at least tip you something first. I pray your efforts with me will be more divinely rewarded !
Expert:  Loren replied 1 year ago.
Thank you for your kind words.

I might also suggest that you check other referral sources such as law school clinics, local bar associations, etc.

Also, rather than the state attorney, you may want to contact the state attorney general. Sometimes they will get involved with a corporation which is being misgoverned by its board. Not always...but sometimes. It may be worth a phone call or two.

Best regards.

JudgeLaw
Loren, Attorney
Category: Business Law
Satisfied Customers: 21417
Experience: 30 years experience representing clients .
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