In this decision by the California Court of Appeals for the Sixth District, the Court affirmed the trial court's denial of a petition for writ of mandate to inspect a large number of corporate records pursuant to Corporations Code section 1601(a). The plaintiff-appellant, Chopra, claimed that he was entitled to inspect these documents in order to, among other things, ascertain the vaue of the company's stock and to determine whether the directors were acting in the best interest of the minority shareholders. Based on analysis of the facts and applicable law, the appellate court held that Chopra failed to meet his burden to establish that Helio Solutions improperly denied his requests or that he was entitled to review the records sought.
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Business Organization Updates, Commercial Law & Contracts Updates, Securities Law Updates
State, 9th Circuit, California |
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