DRRT was honored to support and participate in the ICGN's conference in Seoul on October 5, 2022. We want to thank Mr. Fred Bowman, Investment Officer at Therium Capital Management, and Mr. Joonyup Park, attorney at Kim & Chang and formerly at Korea Investment Corporation for joining our Managing Partner, Joseph Gulino at DRRT's panel, "Shareholder Activism Tools, Litigation as a Tool to Encourage Sound Corporate Governance Practice".
Sophisticated investors have various tools at their disposal to communicate with directors and officers of companies. However, when none of those options result in a correction of bad behavior or when fraud has already occurred, investors can sue to recover from damages and send a strong message to companies. The US market has been providing investors to file in class actions or opt-out if they feel particularly harmed. However, since the Morrison decision in 2010, there has been a growth in international cases. The availability of litigation funding has played a significant role in supporting shareholder litigation initiatives. DRRT's session at the ICGN's conference discussed the options available to investors, the importance of litigation funding in this space, and how companies should engage in shareholder suits.