News & Analysis as of

Inspections Books & Records

Dechert LLP

Delaware Court of Chancery Bars Stockholder from Inspecting Books and Records Related to Board’s ESG-Related Decision

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Proof that an inspection demand is improperly “lawyer-driven” will overcome a stockholder’s pretextual claim for investigating wrongdoing. A stockholder does not have a proper purpose for investigating an “ordinary...more

Davies Ward Phillips & Vineberg LLP

The CRA’s New Power to Compel Oral Interviews

The Canada Revenue Agency (CRA) can now require taxpayers or any other person to answer “all proper questions” and provide all reasonable assistance for any purpose relating to the administration or enforcement of the Income...more

Jackson Lewis P.C.

OSHA Inspection Dos and Don’ts for Construction Industry

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When the Occupational Safety and Health Administration (OSHA) arrives at a construction site for an inspection, knowing the OSHA requirements for the industry is extremely important to keep business moving....more

Sheppard Mullin Richter & Hampton LLP

Delaware Supreme Court Provides Important Guidance Regarding Section 220 Demands, Rejecting Several Limiting Principles Frequently...

Section 220 of the Delaware General Corporation Law, 8 Del. C. § 220 (“Section 220”), permits a stockholder of a Delaware corporation to inspect corporate books and records upon a showing of a proper purpose. The Delaware...more

White and Williams LLP

Delaware Supreme Court Focuses the Ground Rules for Stockholder Books and Records Inspection Demands

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Section 220 of the Delaware General Corporation Law affords stockholders a right to inspect a corporation’s books and records when the inspection demand comes from an existing stockholder, satisfies the statutory form and...more

K&L Gates LLP

Chancery Court Reaffirms Delaware Policy of Broad Section 220 Stockholder Inspection Rights

K&L Gates LLP on

In Lebanon County Employees’ Retirement Fund and Teamsters Local 443 Health Services & Insurance Plan v. AmerisourceBergen Corp., C.A. No 2019-0527-JTL (Del. Ch. Jan. 13, 2020), the Delaware Court of Chancery (the “Court”)...more

Dechert LLP

US SEC Publishes Risk Alert on Top Five Investment Adviser Compliance Issues Found During Inspections

Dechert LLP on

The Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) issued a National Exam Program Risk Alert on February 7, 2017 (Risk Alert), highlighting the “five compliance...more

Morris James LLP

Delaware's Court of Chancery Clarifies Scope of Inspection Under Books and Records Demands

Morris James LLP on

In Amalgamated Bank v. Yahoo!, Inc., C.A. No. 10774-VCL (Del. Ch. Feb. 2, 2016), Plaintiff Amalgamated Bank’s Section 220 books and records demand sought, among other things, the emails of certain Yahoo officers and...more

Morris James LLP

Court Of Chancery Explains When Inspection Is Warranted

Morris James LLP on

Everyone knows that a proper purpose is needed to justify inspection of a company’s records and that investigating wrongdoing is such a proper purpose. But is it enough to just allege that alone, even when there is sufficient...more

Goodwin

Responding to Stockholder Inspection Demands Under Delaware Code § 220

Goodwin on

Delaware Code § 220 gives stockholders the right to inspect a corporation’s books and records, but that right is subject to certain important limitations that have developed in the Delaware caselaw. When a corporation is...more

King & Spalding

Business Lit Ledger -- Fall 2014

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In This Issue: - Promoting the False Claims Act By Dismissing Meritless Qui Tam Actions -Delaware Supreme Court Extends Shareholder Books and Records Inspection Rights to Privileged Internal Investigation...more

Holland & Knight LLP

Delaware Master Recommends Dismissing Books and Records Request by Activist Shareholder

Holland & Knight LLP on

On August 16, 2013, a master in chancery issued a draft report recommending that the Delaware Chancery Court dismiss a request by an activist stockholder to inspect the books and records of a large corporation that produces...more

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