Bridge v Daley and others

Company – Minority shareholder. The claimant had alleged wrongful behaviour by the defendants, who were or had been directors of a company listed on the Alternative Investment Market. The Chancery Division dismissed the claimant's application for permission to bring a derivative action pursuant to s 261 of the Companies Act 2006, as the balance fell heavily against the continuance of the action. Any benefit that it might have brought to the company was insufficient, or insufficiently clear, to outweigh the costs and disruption that it would entail. It was also not an action that had gained the support of the company's members, even those disinterested members.

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