The Delaware Court of Chancery, in MaD Investors GRMD, LLC, et al. v. GR Companies, Inc., C.A. No. 2020-0589-MTZ, memo. op. (Del. Ch. Oct. 28, 2020), rules as a matter of first impression that the five business day deadline for responding to a books and records demand under 8 Del. C. § 220(c) terminates at midnight on day five rather than 5 p.m.
NEW: Morris James discusses the decision in Chancery Dismisses Section 220 Complaint on Jurisdictional Grounds, Finding That Plaintiffs Filed Seven Hours Prematurely.
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