Wrongdoing by the fiduciaries of a corporation, i.e., the directors and officers are litigated in shareholder derivative cases. That is in the U.S. In other countries, such as Germany, shareholder derivative actions cannot be legally brought against wrongdoing directors and officers. Similarly, in the United Kingdom, shareholders can only challenge director and officer actions that shareholders cannot legally ratify. On the other hand, under Japanese law, although shareholder derivative suits are legal, if the shareholders lose, the corporation can pursue the losing shareholders for damages. (1) Research the laws/statutes/rules/court cases dealing with shareholder derivative suits of any country including the three mentioned in the narrative above; (2) In a minimum 250-word discussion, please: (a) Analyze the laws/statutes/rules/court cases you found in (1), above; and (b) Explain whether you conclude that the rules governing shareholder derivative suits in the country you have chosen has encouraged businesses to be more or less culturally responsible?
