Florida Statutes|Section 607.0744

                                                

607.0744 Dismissal.—

(1) A derivative proceeding may be dismissed, in whole or in part, by the court on motion by the corporation if a group specified in subsection (2) or subsection (3) has determined in good faith, after conducting a reasonable inquiry upon which its conclusions are based, that the maintenance of the derivative proceeding is not in the best interests of the corporation. In all such cases, the corporation has the burden of proof regarding the qualifications, good faith, and reasonable inquiry of the group making the determination.
(2) Unless a panel is appointed pursuant to subsection (3), the determination required in subsection (1) shall be made by:
(a) A majority of qualified directors present at a meeting of the board of directors if the qualified directors constitute a quorum; or
(b) A majority vote of a committee consisting of two or more qualified directors appointed by majority vote of qualified directors present at a meeting of the board of directors, regardless of whether such qualified directors constitute a quorum.
(3) Upon motion by the corporation, the court may appoint a panel consisting of one or more disinterested and independent individuals to make a determination required in subsection (1).
(4) This section does not prevent the court from:
(a) Enforcing a person’s rights under the corporation’s articles of incorporation or bylaws or this chapter, including the person’s rights to information under s. 607.1602; or
(b) Exercising its equitable or other powers, including granting extraordinary relief in the form of a temporary restraining order or preliminary injunction.

History.—s. 76, ch. 2019-90.

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5 Files
Filed

Feb 01, 2023

Status

Active

Judge

Hon. Jaimie R. Goodman Trellis Spinner 👉 Discover key insights by exploring more analytics for Jaimie R. Goodman

Court

Palm Beach County

County

Palm Beach County, FL

Category

SHAREHOLDER DERIVATIVE ACTION

Practice Area

Securities

Matter Type

Sharehodler Action

43 Files
Filed

Aug 09, 2021

Status

Active

Court

Miami-Dade County

County

Miami-Dade County, FL

Category

Shareholder Derivative

Practice Area

Securities

Matter Type

General Securities

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Filing # 104045170 E-Filed 02/27/2020 04:53:25 PM IN THE CIRCUIT COURT OF THE ELEVENTH JUDICIAL CIRCUIT, IN AND FOR MIAMI-DADE COUNTY, FLORIDA CASE NO. 2020-001947-CA (43) COMPLEX BUSINESS LITIGATION RAMON E. RASCO and ARMANDO J. GUERRA, Derivatively on behalf of Nominal Defendant, U.S. CENTURY BANK, Plaintiffs, vs. AIDA LEVITAN, LUIS DE LA AGUILERA, RAMON A. ABADIN, BERNARDO B. FERNANDEZ, JR., KIRK WYCOFF, and HOWARD FEINGLASS, Defendants, and U.S. CENTURY BANK, Nominal Defendant. / U.S. C…

Case Filed

Jan 27, 2020

Case Status

CLOSED

County

Miami-Dade County, FL

Filed Date

Feb 27, 2020

Category

Shareholder Derivative

preview-icon 6 pages

Filing # 103353180 E-Filed 02/14/2020 03:19:34 PM IN THE CIRCUIT COURT OF THE 11TH JUDICIAL CIRCUIT IN AND FOR MIAMI-DADE COUNTY, FLORIDA RAMON E. RASCO and ARMANDO J. GUERRA, Derivatively on behalf of Nominal Defendant, U.S. CENTURY BANK, COMPLEX BUSINESS DIVISION CASE NO. 2020-001947-CA (43) Plaintiffs, vs. AIDA LEVITAN, LUIS DE LA AGUILERA, RAMON A. ABADIN, BERNARDO B. FERNANDEZ, JR., KIRK WYCOFF, and HOWARD FEINGLASS, Defendants, and U.S. CENTURY BANK, Nominal Defendant. / U.S. CENTUR…

Case Filed

Jan 27, 2020

Case Status

CLOSED

County

Miami-Dade County, FL

Filed Date

Feb 14, 2020

Category

Shareholder Derivative

preview-icon 4 pages

MANDATE from DISTRICT COURT OF APPEAL OF THE STATE OF FLORIDA THIRD DISTRICT This cause having been brought to the Court by appeal, and after due consideration the Court …

Case Filed

Jul 19, 2018

Case Status

CLOSED

County

Miami-Dade County, FL

Filed Date

Apr 25, 2022

Category

Contract & Indebtedness

preview-icon 2 pages

Filing # 175243465 E-Filed 06/13/2023 04:47:07 PM IN THE CIRCUIT COURT OF THE ELEVENTH JUDICIAL CIRCUIT IN AND FOR MIAMI-DADE COUNTY, FLORIDA CIVIL DIVISION COMPLEX BUSINESS LITIGATION …

Case Filed

Apr 14, 2023

Case Status

CLOSED

County

Miami-Dade County, FL

Filed Date

Jun 13, 2023

Category

Shareholder Derivative

preview-icon 2 pages

Filing # 136533636 E-Filed 10/14/2021 10:05:49 AM IN THE CIRCUIT COURT FOR THE ELEVENTH JUDICIAL CIRCUIT IN AND FOR MIAMI DADE COUNTY, FLORIDA LUIS ROVERSI, individually and derivatively CASE NO. 21-018852 CA 01…

Case Filed

Aug 09, 2021

Case Status

OPEN

County

Miami-Dade County, FL

Filed Date

Oct 14, 2021

Category

Shareholder Derivative

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