How long is the statute of limitations for minority shareholders to sue directors and senior executives for failing to fulfill their due diligence obligations?

Duty of diligence, no litigation. Executives who only take money and do nothing can only rely on internal relief in the company's shareholders' meeting. The major shareholder manipulates the company's personnel appointment. As long as the senior executives do not violate the law or violate the company's articles of association to harm the company's interests, minority shareholders can only quit the company. Violating the duty of loyalty can be prosecuted.

Article 151 Where a director or senior manager falls under the circumstances specified in Article 150 of this Law, a shareholder of a limited company who has held more than 1% of the shares of the company for more than 180 consecutive days may request in writing the board of supervisors or the supervisor of a limited liability company without a board of supervisors to bring a lawsuit to the people's court. Where the supervisor is under the circumstances specified in Article 150 of this Law, the above shareholders may request the board of directors or the executive director of a limited liability company without a board of directors in writing to bring a lawsuit to the people's court.

The statute of limitations is two years. Shareholders who meet the conditions for holding shares must first request the Board of Supervisors to file a lawsuit in writing. If they are rejected or do not file a lawsuit within 30 days, they can file a lawsuit in court.