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Business Litigation Section 220 Request

Mayer Brown

A Matter Of Propriety: Delaware Courts Reject Books-and-Records Demand Driven by Ulterior Motive

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Section 220 demands are a commonly used tool for stockholders to gain access to a company’s books and records. Although this provision of the Delaware General Corporation Law vests stockholders with a right of access thereto,...more

Morris James LLP

Court Of Chancery Explains Proper Evidence To Support Inspection Claim

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In Re UnitedHealth Group Inc. Section 220 Litigation, C.A. 2017-0681-VCMR (February 28, 2018) - To obtain inspection rights from a Delaware corporation to investigate alleged wrongdoing, the petitioner needs some evidence...more

Morris James LLP

Delaware Corporate and Commercial Case Law Year In Review – 2017

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This top ten list summarizes significant decisions of the Delaware Supreme Court and the Delaware Court of Chancery over the past calendar year. Our criteria for selection are that the decision either changed the law in a...more

Fox Rothschild LLP

Incorporation Condition In Confidentiality Agreement Upheld In Books And Records Action

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In the recent DGCL Section 220 books and records decision of The City of Cambridge Retirement System v. Universal Health Services, Inc., C.A. No. 2017-0322-SG (Del. Ch. Oct. 12, 2017), the Court of Chancery considered the...more

Morris James LLP

Court Of Chancery Stresses Importance Of Records Demand In Lead Counsel Battle

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When asked to choose the lead plaintiff and class counsel, the Court of Chancery applies the well-known Hirt factors. As this decision demonstrates, the Court also will place some significant weight on which of the competing...more

Morris James LLP

Court Of Chancery Holds That Wrong Forward Looking Statement Insufficient To Support Records Inspection

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It is not enough that certain forward-looking statements failed to come true to justify requiring an inspection of corporate records. More evidence of wrongdoing is needed if your inspection is based on a theory of...more

Morris James LLP

Court of Chancery Explains Role of Records Demand in Alleging Wrongful Pre-Suit Demand Refusal

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This decision examines when pre-suit demand may be excused because the board who refused the demand declines to disclose the report of its investigation when responding. In this case, the board’s unwillingness to disclose the...more

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