Besides the suit for damages suffered personally, shareholders may, either individually, or collectively, file a derivative lawsuit against the directors.
Where they represent at least one-twentieth of the stated capital, shareholders may, in the common interest, designate, at their own cost, one or several of them to represent them, both as plaintiffs and defendants, in the derivative lawsuit.
The withdrawal of one or more of the said shareholders during the proceedings, either voluntarily, or due to the loss of shareholder status, has no effect on the continuation of the said suit for liability.
The plaintiffs shall be eligible to seek compensation for the entire loss suffered by the company, if any, to which damages are awarded.
Unofficial translation
Transcription: Spot-checked
In force from 05-05-2014
Source page 189
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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Section 741 of the Acte uniforme révisé relatif au droit des sociétés commerciales et du groupement d'intérêt économique/akn/ohada/act/loi/2014-01-30/auscgie-2014
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