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.]