Oklahoma – SB 1799, effective November 1, relates to court awarded attorney fees and court expenses

Oklahoma – SB 1799, effective November 1, relates to court awarded attorney fees and court expenses

October 8, 2014

Senate Bill 1799 signed by the governor May 23 and effective November 1 allows a court to award the plaintiff in a derivative action suit reasonable attorney fees and court expenses, provided any remaining proceeds received by the plaintiff as a result of a compromise or settlement must be remitted back to the corporation.