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Parallel Proceedings

Parallel Proceedings

Definition

Legal proceedings against corporate directors and officers that are separate from, but related to and therefore parallel to, securities class action lawsuits. There are five types of parallel proceedings: (1) derivative lawsuits; (2) opt-out lawsuits; (3) Employee Retirement Income Security Act (ERISA) stock drop litigation; (4) investigations by regulatory agencies; and (5) criminal proceedings.

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