Over the last 18 years that I have maintained this blog, I have published highlights on these pages, and elsewhere, of about 190 or so Delaware decisions involving stockholder demands under DGCL Section 220 for books and records, as well as the analogue in the LLC context. Nowadays, I only highlight those I find to be
books and records
Chancery Clarifies Standard to Shift Fees for Improper Litigation Conduct
By Francis Pileggi on
Posted in Chancery Court Updates
For the last 16 years, these pages have featured many highlights of court decisions addressing the right of a stockholder, or a member of an LLC, to demand a company’s “books and records“. Regular readers will recall much commentary about why the exercise of such rights are not for the fainthearted.
Why this decision…
Chancery Allows Claims for Breach of Both Fiduciary Duty and Contract Against LLC Manager
By Francis Pileggi on
Posted in Chancery Court Updates
The Delaware Court of Chancery recently explained under what circumstances dual claims will be allowed to proceed for both breach of fiduciary duty and breach of contract in the context of the manager of an LLC allegedly using LLC assets for his personal benefit in a manner not shared by all the other LLC members.…
Chancery Clarifies Nuances of Section 220 Stockholder Demand for Inspection Rights
By Francis Pileggi on
Posted in Chancery Court Updates
A recent Delaware Court of Chancery opinion provides insights into nuances of DGCL Section 220 as it relates to the rights of stockholders to inspect corporate books and records, and deserves to be in included in the pantheon of Delaware decisions on this topic. It must be read by anyone seeking a complete understanding of …
Chancery Court says inspection cannot be thwarted by claiming records are out of reach at sister firm
By Francis Pileggi on
Posted in Chancery Court Updates
This post was prepared by Frank Reynolds, who has been following Delaware corporate law, and writing about it for various legal publications, for over 30 years.
The Delaware Court of Chancery recently granted a Sahara Enterprises Inc. investor’s books-and-records demand to know how the allegedly underperforming investment company was being run after finding that the…
Supreme Court Affirms Chancery’s Denial of Request for Hewlett Packard Report
By Francis Pileggi on
Posted in Delaware Supreme Court Updates
In Espinoza v. Hewlett-Packard Co., read opinion here, the Delaware Supreme Court yesterday affirmed the Court of Chancery’s denial of a request under DGCL Section 220 for a report regarding the investigation relating to the ouster of former Hewlett Packard CEO Mark Hurd. Highlights of prior Chancery decisions in this matter are available here.…
Chancery Court Denies Books and Records Demand for LLC
By Francis Pileggi on
Posted in Chancery Court Updates
JAKKS Pacific, Inc. v. THQ/JAKKS Pacific, LLC, Del. Ch., No. 4295-VCL (May 6, 2009), read opinion here.
Pursuant to Section 18-305 of the Delaware Limited Liability Company Act (6 Del. C. Section 18-305), the plaintiff in this case sought an inspection of the books and records of an LLC. The complaint was filed on…