kaal:claim:1558614-035

Germany's 2005 introduction of the derivative suit tightened the standard of care only partially, because section 148(1) of the AktG conditions shareholder standing on holding shares worth roughly 100,000 euros, a threshold with no U.S. counterpart.

section 148(1) of the AktG requires a threshold ownership of shares totaling !100,000 (about $127,090) for shareholders to have standing to sue on behalf 174 of the corporation in German courts

Painter and Kaal, Initial Reflections on an Evolving Standard Constraints on Risk Taking by Directors and Officers in (2010), IV.C. Securities Disclosure, p. 40
https://ssrn.com/abstract=1558614 · source PDF

Painter and Kaal, Initial Reflections on an Evolving Standard Constraints on Risk Taking by Directors and Officers in (2010). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1558614

• German derivative suits under section 148(1) AktG as amended by the UMAG
• partly counterbalanced by VorstAG liability and compensation reduction provisions

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