derivative action
C2CEFR level
85/100Rarity: very rare
TechnicalRegister
Law noun
A suit a shareholder brings on the company's behalf against those who harmed it.
The minority launched a derivative action against the self-dealing directors.
Business noun
A lawsuit brought by a shareholder on the company's behalf against its own directors.
Minority holders launched a derivative action to recover the sums lost to self-dealing.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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