Sculptor Responds to Daniel S Och s Section 220 Demand for Inspection streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
What is a books and records demand? Under Delaware General Corporation Law Section 220, stockholders have the right to inspect corporate records. Strict compliance with.
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Last week, the Delaware Supreme Court issued an important decision effectively broadening the scope of stockholder pre-litigation inspection rights.
In January 2020, the Court of Chancery held in
Lebanon County Employees’ Retirement Fund v. AmerisourceBergen Corp. that demanding stockholders had established a proper purpose under Section 220 of the Delaware GCL to inspect AmerisourceBergen’s books and records and ordered,
sua sponte, a 30(b)(6) deposition to enable the plaintiffs to identify the types and custodians of documents to which they may be entitled.
[1] Vice Chancellor Laster’s decision is covered at length in a prior alert.