The Delaware Court of Chancery, in Lebanon County Employees’ Retirement Fund v. AmerisourceBergen Corp., C.A. No. 2019-0527-JTL, memo. op. (Del. Ch. Jan. 13, 2020), found stockholders entitled to inspection of corporate books and records, relating to defendant pharmaceutical distributor’s monitoring of opioid shipments, for purposes of investigating possible wrongdoing, irrespective of whether the possible wrongdoing would support claims that were actionable or subject to indemnification.
NEW: Morris James discusses the decision in Chancery Further Explains the “Proper Purpose” Requirement for Section 220 Demands.
DealLawyers.com discusses the decision in Books & Records: Del. Chancery Decision Broadens Inspection Rights.
Lowenstein Sandler discusses the decision in Delaware Chancery: Investors Are Entitled to Inspection Rights, Which May Include a Deposition.
The National Law Review discusses the decision in Delaware Court of Chancery Finds No Showing of Actionable Claim Required to Inspect Books and Records.
Kramer Levin discusses the decision in Delaware Chancery Court Holds That Stockholders Had a “Proper Purpose” to Seek Board Materials From Opioid Distributor, and Orders a 30(b)(6) Deposition, in Section 220 Books and Records Action.
The National Law Review discusses the decision in Court of Chancery Expands Stockholder Right to Corporate Books and Records.
Francis Pileggi discusses the decision in Vice Chancellor Does Not Follow Prior Section 220 Decisions.
Morrison & Foerster discusses the decision in Court of Chancery Rejects Common Company Defenses to Stockholder Inspection Demands, Creating Split of Authority Within Delaware.
Sullivan & Cromwell discusses the decision in Delaware Chancery Court Orders Production of Board Materials and Deposition of Corporate Representative in Section 220 Books and Records Litigation.
Fox Rothschild discusses the decision in AmerisourceBergen Ordered to Produce Board Level Documents Relating to Opioid Investigations in Section 220 Books and Records Action.
[$$$] Law360 discusses the decision in Chancery Energizes Investor Bids To Probe Corporations.
Alison Frankel discusses the decision in Delaware Chancery judge pushes back against limits on books-and-records demands.