strike suit

strike suit
A derivative action instituted by a minority of stockholders for the purpose of oppressing the majority and involving the corporation itself in disaster for selfish purposes and for reasons not always revealed. 19 Am J2d Corp § 560.

Ballentine's law dictionary. . 1998.

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  • strike suits — Shareholder derivative action begun with hope of winning large attorney fees or private settlements, and with no intention of benefiting corporation on behalf of which suit is theoretically brought …   Black's law dictionary

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