Tuesday, 24 May 2022

UK: England and Wales: multiple derivative claims

A very quick post to say: I see that permission to continue various claims has been refused by Mr Justice Leech in McGaughey & Anor v Universities Superannuation Scheme Ltd & Anor [2022] EWHC 1233 (Ch). Some claims were found not to be multiple derivative claims, as the claimants argued they were, while in respect of another - alleged breaches of directors' duties where directors continued to invest in fossil fuels without an immediate plan to divest contrary to the company's long-term interests - the judge held that the claimants lacked a sufficient interest or standing.

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