CORPORATE AND SECURITIES LAW — SECTION 14(A) VIOLATIONS — NINTH CIRCUIT ENFORCES FORUM SELECTION CLAUSE BLOCKING DERIVATIVE SUITS. — Lee ex rel. Gap, Inc. v. Fisher.

The article centers on the Ninth Circuit's ruling in Lee ex rel. Gap, Inc. v. Fisher, which concerns the enforceability of a forum selection clause in corporate bylaws. It highlights the tension between state corporate law, federal securities regulations, and shareholders' rights to pursue legal action. It delves into the intricacies of forum selection clauses, the interpretation of federal securities laws, and the role of state law in determining the classification of shareholder claims.