In the recent decision of Laborers’ District Council Construction Industry Pension Fund v. Bensoussan, C.A. No. 1123-CB (Del. Ch. June 14, 2016), the Court of Chancery was confronted with
Continue Reading Failure to File Section 220 Demand Prior to Derivative Litigation Does Not Render Representation Inadequate
Books and Records Demand
Section 220 Books and Records Demand Dismissed Due to Issue Preclusion
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Often times, a Section 220 books and records action precedes derivative litigation. However, it is not uncommon for one faction of stockholder plaintiffs to dive right into derivative litigation in…
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Derivative Complaint Dismissed for Lack of Supporting Factual Allegation – Books and Records Request Should be Used to Develop Facts
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In the recent decision of The Joseph Penar Family Trust v. Adams, C.A. 10441-VCG (Del. Ch. Apr. 28, 2016), Vice Chancellor Glasscock dismissed a derivative complaint for lack…
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Delaware LLC Inspection Rights Under Section 18-305 Examined
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Section 18-305 of the Delaware LLC Act governs the rights of inspection of books and records of a Delaware LLC by a manager or member. For links to prior posts…
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Section 220 Books and Records Statute Includes Electronically Stored Information
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In the recent decision of Amalgamated Bank v. Yahoo! Inc., C.A. 10774-VCL (Del. Ch. Feb. 2, 2016), Vice Chancellor Laster issued a “must read” decision that ruled on…
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Delaware Supreme Court Affirms Chancery’s Denial of Books and Records Demand – Credible Basis for Misconduct Not Established
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Often times, parties move to seek inspection of books and records under Section 220 in order to support a claim against management for corporate misconduct. However, the Court of Chancery…
Continue Reading Delaware Supreme Court Affirms Chancery’s Denial of Books and Records Demand – Credible Basis for Misconduct Not Established
Books and Records Demand – Investigation into Corporate Mismanagement
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Often times, shareholders of a Delaware company will make a books and records demand upon the company to investigate corporate mismanagement. Such a request was considered in the recent decision…
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Books and Records Request – Valuation as Proper Purpose
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The Court of Chancery’s recent decision of In re: New Media Books and Records Action, C.A. No. 9984-VCN (Del. Ch. Dec. 23, 2015) demonstrates the Court’s reluctance to grant…
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Termination of Receivership Standard Addressed by the Court
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In the recent decision of Jagodzinksi v. Silicon Valley Innovation Company, LLC, C.A. No. 7378-VCP (Del. Ch. Aug. 7, 2015), the Court of Chancery ruled on plaintiff’s motion to terminate…
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Court Grants Disclosure of Privileged Documents under Garner Doctrine
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In the recent Court of Chancery decision of De Vries v. Del Mar, L.L.C., C.A. No. 9372-ML (June 3, 2015), Master LeGrow granted disclosure of privileged information under…
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