Court of Appeal Holds that a Non-Shareholder has Standing to Challenge the Election of Corporate Directors


As is also the case with political elections, the outcome of corporate elections can be challenged by the losers. In California, shareholders have a statutory right to obtain a quick hearing on an election's outcome. This right is clearly available to shareholders, but what about others? In a recent decision, the Court of Appeal has held that someone who has entered into an agreement to take shares may also use this statutory procedure.

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