WA Bar Practice Questions - Washington Bar Examination (NextGen UBE) Exam

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A corporation's shareholder wants to bring a lawsuit on behalf of the corporation against a director for breaching fiduciary duties. Before filing a derivative suit, what must the shareholder generally do?

Obtain unanimous shareholder approval Personally purchase a controlling interest in the corporation Make a demand on the board to take action, or plead with particularity why demand would be futile File a separate criminal complaint first

Correct Answer:

Make a demand on the board to take action, or plead with particularity why demand would be futile

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