special litigation committee

special litigation committee. Corporations. A committee of independent corporate directors assigned to investigate the merits of a shareholder derivative suit and, if appropriate, to recommend maintaining or dismissing the suit. — Abbr. SLC. — Also termed independent investigation committee; authorized committee. See DERIVATIVE ACTION(1). [Cases: Corporations 206(1). C.J.S. Corporations §§ 407, 409, 411.]

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词条贡献者

双语律师Benita，国际知名法学院金融专业，擅长翻译各类与项目开发及融资相关的法律文件。