What does Parallel Proceedings mean? Read on to discover the definition & meaning of the term Parallel Proceedings - to help you better understand the language used in insurance policies.
Legal proceedings against corporate directors and officers that are separate from, but related to and therefore parallel to, securities class action lawsuits. There are five types of parallel proceedings: (1) derivative lawsuits; (2) opt-out lawsuits; (3) Employee Retirement Income Security Act (ERISA) stock drop litigation; (4) investigations by regulatory agencies; and (5) criminal proceedings.
We hope the you have a better understanding of the meaning of Parallel Proceedings.