By Raphaël MORENON
6 June 2025
Far from being a mere theoretical concept, concerted action is a legal and strategic reality at the heart of company law and stock market law. It refers to a situation where several individuals or legal entities coordinate their efforts to implement a common strategy with regard to a company. Article L. 233-10 of the French Commercial Code provides the legal definition, a key text whose scope is much broader than it appears. Understanding its mechanisms is essential for any director or shareholder, as a finding of concerted action has significant consequences, particularly in terms of joint and several liability and reporting obligations. The purpose of this article is to analyse the constituent elements of concerted action as defined by law. The legal framework: Article L. 233-10 of the Commercial Code General overview of the text Article L. 233-10 of the Commercial Code is the cornerstone...
EN 
FR