WY Bar Practice Questions - Wyoming Bar Examination Exam

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A shareholder wishes to bring a derivative suit on behalf of a Wyoming corporation against its directors for breach of fiduciary duty. Before filing, the shareholder generally must:

Obtain unanimous approval of all other shareholders Personally post a $1 million bond Make a demand on the board of directors to take action, or plead with particularity why demand is excused First sue the corporation's auditors

Correct Answer:

Make a demand on the board of directors to take action, or plead with particularity why demand is excused

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