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A founder owned shares when directors approved a challenged self-dealing loan. The founder died, and the shares passed by inheritance to the founder's daughter, who then filed a derivative action over the loan.
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A shareholder who received shares by inheritance after the transaction may satisfy the ownership requirement if the shares devolved by operation of law from someone who owned them at the relevant time. Inheritance never matters because all derivative plaintiffs must personally buy shares before the challenged act. Inheritance always defeats derivative standing. A shareholder who inherits shares can sue only if the corporation consents.

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