Section 220 of the Delaware General Corporation Law permits a stockholder or director to make a books and records against a corporation incorporated in Delaware, regardless of where the corporation conducts its business. Yet many jurisdictions have their own inspection statutes, some of which govern not only entities incorporated or formed in that state, but
Delaware Corporate and Commercial Litigation
Section 225 of the DGCL: Challenges to Director Elections, Appointments, Removals or Resignations
By Carl D. Neff on
Posted in Summary Proceedings
Section 225 of the Delaware General Corporation Law is an important and powerful tool for any shareholder, director or officer seeking to challenge the results of an election of directors of a Delaware corporation, along with the appointment, removal or resignation of any director or officer.
From a procedural perspective, a party seeking such relief…
Stockholder Seeking Books and Records Need Not Prove an End-Use for Valuation of Shares
By Carl D. Neff on
Posted in Books and Records Demand
It is well established that when a stockholder of a Delaware corporation makes a books and records demand under Section 220 of the DGCL, the stockholder must state a proper purpose for the requested books and records. “Valuation of a stockholder’s investment in a corporation, particularly where the corporation is privately held, has long…
Delaware Court of Chancery Issues Courtroom Protocols Pertaining to Courthouse Reopening
By Carl D. Neff on
Posted in News
Earlier in June 2020, the Delaware Court of Chancery has issued its Courtroom Protocols, that are being implemented, effective June 8, 2020, in conjunction with the reopening of the courthouses. A high-level summary of the new practices and procedures are set forth below:
- All attorneys and members of the public will be screened upon
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