News & Analysis as of

Mismanagement Section 220 Request

Proskauer - Minding Your Business

Bearing the Books and Records Burden: Delaware Supreme Court Affirms Section 220 Order in AmerisourceBergen

This past year, Proskauer’s private fund litigation blog highlighted a Delaware Chancery case adopting an expansive view in favor of parties seeking information from companies under Section 220 of the Delaware General...more

Cadwalader, Wickersham & Taft LLP

Delaware Court of Chancery Finds No Showing of Actionable Claim Required to Inspect Books and Records

In Lebanon County Employees’ Retirement Fund, et al. v. AmerisourceBergen Corporation, the Delaware Court of Chancery ordered the inspection of the books and records of AmerisourceBergen Corporation, one of the leading opioid...more

A&O Shearman

Delaware Court Of Chancery Rejects Demand To Inspect Books And Records Under Section 220 To Aid In Proxy Contest

A&O Shearman on

On November 14, 2019, Vice Chancellor Joseph R. Slights III of the Delaware Court of Chancery rejected a demand by stockholders of Occidental Petroleum Corporation under Section 220, 8 Del. C. § 220, for documents and...more

A&O Shearman

Delaware Court Of Chancery Grants Shareholder's Post-Merger Books And Records Demand, Finding "Credible Basis" To Investigate...

A&O Shearman on

On August 28, 2019, Vice Chancellor Kathaleen S. McCormick of the Delaware Court of Chancery granted a shareholder’s demand under 8 Del. C. § 220 to inspect the books and records of defendant GGP Inc. for the purpose of...more

A&O Shearman

Delaware Court Of Chancery Finds A Circumstantial Connection To Negative Corporate Developments Insufficient To Trigger Inspection...

A&O Shearman on

On February 12, 2019, Vice Chancellor Joseph R. Slights III of the Delaware Court of Chancery denied a books and records demand of a mattress company’s (the “Company”) stockholder in connection with the termination of the...more

A&O Shearman

Delaware Supreme Court Grants Stockholder's Section 220 Demand As To Certain Email, And Grants Requested Exceptions To...

A&O Shearman on

On January 29, 2019, in a decision authored by Chief Justice Leo E. Strine Jr., the Supreme Court of Delaware unanimously granted a stockholder petitioner’s demand under Delaware General Corporation Law Section 220, 8 Del. C....more

White and Williams LLP

Delaware Chancery Court Disfavors “Sue First, Ask Questions Later” Approach to a Books and Records Demand

Section 220 of the Delaware General Corporation Law entitles a stockholder of a corporation to inspect a corporation’s books and records. Section 220 requests are subject to specific technical requirements, one of which is...more

Morris James LLP

Court of Chancery Explains Burden Needed to Support Inspection for Suspected Wrongdoing

Morris James LLP on

Barnes v. Sprouts Farmers Market Inc., C.A. No. 2017-0735-MTZ (Del. Ch. July 18, 2018) - An investor seeking books and records for the purpose of investigating wrongdoing or mismanagement must establish a “credible basis”...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Court of Chancery Provides Guidance on 'Credible Basis' Standard for Obtaining Books"

The Delaware Supreme Court has held that strict adherence to the procedural requirements of Section 220 of the Delaware General Corporation Law “protects the right of the corporation to receive and consider a demand in proper...more

Morris James LLP

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

Morris James LLP on

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

10 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide