{"id":4473,"date":"2014-11-26T10:00:51","date_gmt":"2014-11-26T16:00:51","guid":{"rendered":"http:\/\/injury.robertkreisman.com\/?p=4473"},"modified":"2014-11-22T18:09:22","modified_gmt":"2014-11-23T00:09:22","slug":"court-holds-individual-shareholder-brought-lawsuit-derivative-action-rather-separate-individual-claim","status":"publish","type":"post","link":"https:\/\/www.robertkreisman.com\/injury-lawyer\/court-holds-individual-shareholder-brought-lawsuit-derivative-action-rather-separate-individual-claim\/","title":{"rendered":"Court Holds That Individual Shareholder Should Have Brought Lawsuit as a Derivative Action Rather Than as a Separate, Individual Claim"},"content":{"rendered":"<p>Daniel Nickell filed a lawsuit against the officers and directors of Engineer Support. He claimed it had improperly diverted financial benefits by backdating stock options, which decreased the value of the corporation for its shareholders. Nickell was a shareholder of Engineer Support Systems Inc. (ESSI). ESSI merged with <a href=\"http:\/\/www.drs.com\/\">DRS Technologies<\/a> in January 2006.<\/p>\n<p>In Nickell\u2019s lawsuit, he alleged that the officers and directors made material misrepresentations to induce the merger at a reduced price for the company in exchange for DRS assuming responsibility for the backdating scheme.<\/p>\n<p>The trial judge dismissed Nickell\u2019s lawsuit on the grounds that his claims were pleaded as a shareholder derivative claim and that he did not have standing to sue the ESSI directors and officers for his individual claims. Nickell appealed to the <a href=\"http:\/\/www.courts.mo.gov\/page.jsp?id=27\">Supreme Court of Missouri<\/a>, which affirmed the dismissal of his case.<\/p>\n<p> <a href=\"https:\/\/www.robertkreisman.com\/injury-lawyer\/court-holds-individual-shareholder-brought-lawsuit-derivative-action-rather-separate-individual-claim\/#more-4473\" class=\"more-link\">Continue reading<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Daniel Nickell filed a lawsuit against the officers and directors of Engineer Support. He claimed it had improperly diverted financial benefits by backdating stock options, which decreased the value of the corporation for its shareholders. Nickell was a shareholder of Engineer Support Systems Inc. (ESSI). ESSI merged with DRS Technologies in January 2006. In Nickell\u2019s [&hellip;]<\/p>\n","protected":false},"author":795,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[81,49,134,83,82],"tags":[],"class_list":["post-4473","post","type-post","status-publish","format-standard","hentry","category-breach-of-fiduciary-duty","category-business-litigation","category-commercial-litigation","category-corporate-law","category-shareholders-derivative-lawsuits"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Court Holds That Individual Shareholder Should Have Brought Lawsuit as a Derivative Action Rather Than as a Separate, Individual Claim &#8212; Chicago Injury Lawyer Blog<\/title>\n<meta name=\"description\" content=\"Daniel Nickell filed a lawsuit against the officers and directors of Engineer Support. He claimed it had improperly diverted financial benefits by\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.robertkreisman.com\/injury-lawyer\/court-holds-individual-shareholder-brought-lawsuit-derivative-action-rather-separate-individual-claim\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Court Holds That Individual Shareholder Should Have Brought Lawsuit as a Derivative Action Rather Than as a Separate, Individual Claim &#8212; Chicago Injury Lawyer Blog\" \/>\n<meta name=\"twitter:description\" content=\"Daniel Nickell filed a lawsuit against the officers and directors of Engineer Support. He claimed it had improperly diverted financial benefits by\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Robert Kreisman\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Court Holds That Individual Shareholder Should Have Brought Lawsuit as a Derivative Action Rather Than as a Separate, Individual Claim &#8212; Chicago Injury Lawyer Blog","description":"Daniel Nickell filed a lawsuit against the officers and directors of Engineer Support. 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He claimed it had improperly diverted financial benefits by","twitter_misc":{"Written by":"Robert Kreisman","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.robertkreisman.com\/injury-lawyer\/court-holds-individual-shareholder-brought-lawsuit-derivative-action-rather-separate-individual-claim\/#article","isPartOf":{"@id":"https:\/\/www.robertkreisman.com\/injury-lawyer\/court-holds-individual-shareholder-brought-lawsuit-derivative-action-rather-separate-individual-claim\/"},"author":{"name":"Robert Kreisman","@id":"https:\/\/www.robertkreisman.com\/injury-lawyer\/#\/schema\/person\/5e5596abf7be77fdabc788f0a78f042b"},"headline":"Court Holds That Individual Shareholder Should Have Brought Lawsuit as a Derivative Action Rather Than as a Separate, Individual Claim","datePublished":"2014-11-26T16:00:51+00:00","mainEntityOfPage":{"@id":"https:\/\/www.robertkreisman.com\/injury-lawyer\/court-holds-individual-shareholder-brought-lawsuit-derivative-action-rather-separate-individual-claim\/"},"wordCount":763,"articleSection":["Breach of Fiduciary Duty","Business Litigation","Commercial Litigation","Corporate Law","Shareholders' Derivative Lawsuits"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.robertkreisman.com\/injury-lawyer\/court-holds-individual-shareholder-brought-lawsuit-derivative-action-rather-separate-individual-claim\/","url":"https:\/\/www.robertkreisman.com\/injury-lawyer\/court-holds-individual-shareholder-brought-lawsuit-derivative-action-rather-separate-individual-claim\/","name":"Court Holds That Individual Shareholder Should Have Brought Lawsuit as a Derivative Action Rather Than as a Separate, Individual Claim &#8212; Chicago Injury Lawyer Blog","isPartOf":{"@id":"https:\/\/www.robertkreisman.com\/injury-lawyer\/#website"},"datePublished":"2014-11-26T16:00:51+00:00","author":{"@id":"https:\/\/www.robertkreisman.com\/injury-lawyer\/#\/schema\/person\/5e5596abf7be77fdabc788f0a78f042b"},"description":"Daniel Nickell filed a lawsuit against the officers and directors of Engineer Support. 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