Sentences with phrase «subsidiary against the wrongdoers»

It also rejected the argument that a multiple derivative action comprises two derivative actions (one by the shareholders on behalf of the parent company against the subsidiary for its failure to sue the wrongdoers and one by the parent company on behalf of the subsidiary against the wrongdoers), neither of which was maintainable (the first because the subsidiary owed the parent no duty to sue the wrongdoers and the second because the parent company was in control of the subsidiary).