(1) Any shareholder, director, auditor, member of the audit committee or liquidator of each company may claim invalidation of a share swap only by a lawsuit within six months of the date of such share swap.
(2) A lawsuit under paragraph (1) shall be under the exclusive jurisdiction of the district court having jurisdiction over the location of the head office of the company becoming a wholly owning parent company.
(3) When a judgment invalidating a share swap becomes final and conclusive, the company that has become a wholly owning parent company shall transfer its shares in the company that has become a wholly owned subsidiary to the shareholders of the new shares issued or treasury shares transferred for the share swap. <Amended by Act No. 13523, Dec. 1, 2015>
(4) The provisions of Articles 187 through 189, 190 (text), 191, 192, 377 and 431 shall apply mutatis mutandis to litigations under paragraph (1), and those of Articles 339 and 340 (3) to cases under paragraph (3), respectively.[This Article Newly Inserted by Act No. 6488, Jul. 24, 2001]