strike suit

strike suit
strike suit n: a derivative action based on no bona fide claim and brought with the intent to force defendants to settle out of court

Merriam-Webster’s Dictionary of Law. . 1996.

strike suit
n. A suit brought without legitimate claim (usually by a shareholder in the name of the company) in hopes of an inflated settlement.

Webster's New World Law Dictionary. . 2000.

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  • strike suits — Shareholder derivative action begun with hope of winning large attorney fees or private settlements, and with no intention of benefiting corporation on behalf of which suit is theoretically brought …   Black's law dictionary

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