Florida Statutes
Fla. Stat. § 607.0745 (2025)
Discontinuance or settlement; notice.
✓ 2025 Florida Statutes — current through the 2025 Regular Session
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607.0745 Discontinuance or settlement; notice.—
(1) A derivative action on behalf of a corporation may not be discontinued or settled without the court’s approval.
(2) If the court determines that a proposed discontinuance or settlement will substantially affect the interest of the corporation’s shareholders or a class, series, or voting group of shareholders, the court shall direct that notice be given to the shareholders affected. The court may determine which party or parties to the derivative action shall bear the expense of giving the notice.
Notes of Decisions
Cited in 1
case (1 in the last 5 years), 2023–2023 · leading case: Mark Spanakos v. Hawk Sys., Inc. (Fla. 4th DCA 2023).
Mark Spanakos v. Hawk Sys., Inc. (Fla. 4th DCA 2023). “Spanakos did not preserve the argument that the proposal for settlement needed to list court approval as a condition of settlement, as this argument was not presented to the trial court.”
— 607.0745(1) — 1 case
Mark Spanakos v. Hawk Sys., Inc. (Fla. 4th DCA 2023). “Spanakos did not preserve the argument that the proposal for settlement needed to list court approval as a condition of settlement, as this argument was not presented to the trial court.”
— 607.0745(2) — 1 case
Mark Spanakos v. Hawk Sys., Inc. (Fla. 4th DCA 2023). “Spanakos did not preserve the argument that the proposal for settlement needed to list court approval as a condition of settlement, as this argument was not presented to the trial court.”
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