On August 25, 2023, Magistrate Bonnie W. David of the Delaware Chancery Court issued a post-trial report denying stockholder requests for supplemental productions of emails from.
For decades, Delaware courts have encouraged stockholders to use the “tools at hand” before initiating lawsuits by obtaining corporations’ books and records through 8 Del. C. § 220.
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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.