2013 New Jersey Revised Statutes
Title 14A - CORPORATIONS, GENERAL
Section 14A:3-6.6 - Court's approval required.


NJ Rev Stat § 14A:3-6.6 (2013) What's This?

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.


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