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ARTICLE CONTENTS

[Pages 741-778]
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Introduction
I.  Corporate Law Principles
    A.  The Roles of the Board of Directors and the Officers
        1.  The Board of Directors
        2.  Officers
    B.  Fiduciary Duties
    C.  The Business Judgment Rule
        1.  The Action Requirement and the Possibility of a Duty to Monitor
        2.  The Informed Judgment Requirement
        3.  The Legal Activity Requirement
    D.  The Derivative Suit
        1.  The Demand Requirement
        2.  CERCLA and Derivative Suits
II.  CERCLA
    A.  Legislative History and Purpose
    B.  Enforcement Provisions
    C.  Parties
    D.  Damages
    E.  Officers and Directors
        1.  Direct and Derivative Officer Liability
        2.  Direct Liability Precedent
III.  Analysis
    A.  Current CERCLA Coverage is not Sufficient
    B.  Different Paradigms of Possible Liability Through Derivative Suits
        1.  Directors or Officers Who are Aware of CERCLA Violations
        2.  Directors or Officers Who are Unaware of the CERCLA Violation
              a.  Directors and Officers Who Should Have Known About the CERCLA Violations
              b.  Failure to Monitor
    C.  Possible Obstacles
        1.  The Demand Requirement
        2.  Damage to the Corporation
        3.  The Shareholder Power Argument
Conclusion