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For example, the right to vote is an incident of shareholder status. As background, Part II describes direct and derivative claims in their pure forms. Part III describes the special problems faced by derivative plaintiffs as contrasted with direct plaintiffs and thereby shows why the direct/derivative distinction matters. The wrongful conduct relates to the shareholder only through the medium of the corporation, i.e., by reducing the value of the shareholder’s stock.
For example, when those in control of the corporation act negligently, Likewise, if a corporate director takes for him or herself a business opportunity that properly belongs to the corporation, it is the corporation, not the shareholder, that has lost the opportunity and any attendant profits. 3a by adding a presumption that written agreements, including employment agreements and buy-sell agreements, reflect the parties’ reasonable expectations). Recognizing the vulnerability of minority shareholders in a close corporation, the statute accords them special protections. A direct suit typically names not only the corporation but also individual directors and shareholders as defendants.