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New Jersey Statutes, Title: 14A, CORPORATIONS, GENERAL
Chapter 3: General powers.
Section: 14A:3-6.6: Court's approval required.
6. A derivative proceeding or a shareholder class action may not be discontinued or settled without the court's approval. If the court determines that a proposed discontinuance or settlement will substantially affect the interests of the corporation's shareholders or a class of shareholders, the court shall direct that notice be given to the shareholders affected.
L.2013, c.42, s.6.
This section added to the Rutgers Database: 2013-04-16 16:17:40.
Older versions of 14a:3-6.6 (if available):
Court decisions that cite this statute:
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