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Tennessee Code Title 48. Corporations and Associations § 48-103-208

Current as of January 02, 2024 | Updated by Findlaw Staff

(a) Actions for damages or other relief, including an injunction, against any proposed business combination which is or would be in violation of this part, may be brought by one (1) or more of the following parties:

(1) The resident domestic corporation or any of its subsidiaries which are a party to such business combination;

(2) Any one (1) or more of the shareholders of the voting stock of such resident domestic corporation or any of its subsidiaries which are a party to such business combination who, individually or in the aggregate with other shareholders joining in such action, hold five percent (5%) or more of any class or series of the issued and outstanding voting stock of such resident domestic corporation (or any of its subsidiaries if a party to such business combination) which are not beneficially owned by the interested shareholder and the affiliates and associates of such interested shareholder as of the time the action is instituted; or

(3) By the attorney general and reporter.

(b) No action alleging a violation of this part may be instituted more than one (1) year after the consummation date for the business combination which is allegedly in violation of this part.

(c) No bond or other security shall be required as a condition for the issuance of any restraining order or other injunctive relief ordered by any court of competent jurisdiction in connection with any action brought to enforce this part.

(d) Actions may be brought in any court of competent jurisdiction for violations of this part in the same manner as any other civil action.

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Cite this article: FindLaw.com - Tennessee Code Title 48. Corporations and Associations § 48-103-208 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-48-corporations-and-associations/tn-code-sect-48-103-208/

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