• Connecticut Appellate Court
  • Connecticut Appellate Court
  • AC 33735
  • Mar 26 2013 (Date Decided)
  • Schaller, J.
Connecticut General Statutes §33-724(a) requires courts to dismiss a shareholder derivative proceeding if a majority vote of qualified directors constituting a quorum, or a committee appointed by qualified directors, determined in good faith, after conducting a reasonable inquiry upon which its conclusions are based, that the maintenance of a derivative proceeding is not in the corporation's best interests.

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