Explain derivative shareholder lawsuit four brothers-monnie

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Reference no: EM1356718

Derivative Shareholder Lawsuit Four brothers-Monnie, Mechel, Merko, and Sam Dotlich-formed a partnership to run a heavy equipment rental business. One decade later, the company had been incorporated as Dotlich Brothers, Inc. Each brother owned 25 percent of the corporation &'s stock, and each served on the board of directors. During the course of its operation, the business acquired a 56-acre tract of land in Speedway, Indiana. This land was held in the name of Monnie Dotlich. Each of the brothers was aware of this agreement. The corporation also had purchased six other pieces of property, all of which were held in Monnie &'s name. Sam Dotlich was not informed that Monnie was the record owner of these other properties. Sam discovered this irregularity and requested that the board of directors take action to remedy the situation. When the board refused to do so, Sam initiated a lawsuit on behalf of the corporation. Can Sam bring this lawsuit?

Reference no: EM1356718

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