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.
Source quote, verbatim
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
From
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
Cite as
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
Holds when
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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