The Delaware Supreme Court, in AmerisourceBergen Corp. v. Lebanon County Employees’ Retirement Fund, et al., No. 60, 2020, opinion (Del. Dec. 10, 2020), affirmed the Court of Chancery’s interlocutory rulings in Lebanon County Employees’ Retirement Fund, et al. v. AmerisourceBergen Corp., C.A. No. 2019-0527-JTL, memo. op. (Del. Ch. Jan. 13, 2020), that stockholders’ right to inspect books and records for the purpose of investigating possible wrongdoing is not limited to “actionable” wrongdoing and does not require disclosure of intended use of information obtained.

NEW:  Olshan Frome discusses the decision in Delaware Supreme Court Affirms AmerisourceBergen Ruling that Company Must Produce Documents.

Appraisal Rights Litigation Blog discusses the decision in Del. Supreme Court Weighs In and Affirms Shareholders’ Rights to Access Books and Records.

Sheppard Mullin discusses the decision in Delaware Supreme Court Provides Important Guidance Regarding Section 220 Demands, Rejecting Several Limiting Principles Frequently Offered By Corporations Resisting Stockholder Inspection Demands.

Morris James discusses the decision in Delaware Supreme Court Clarifies When Books and Records Requests to Investigate Wrongdoing or Mismanagement Have a “Proper Purpose”.

Sidley Austin discusses the decision in Sharpening The “Tools At Hand”: Delaware Supreme Court Holds Stockholders May Access Books And Records Without Proof Of An Actionable Future Claim.

Montgomery McCracken discusses the decision in Stockholder Books and Records Actions: Delaware Supreme Court Levels the Playing Field for Stockholders Seeking to Investigate Malfeasance.

Kramer Levin discusses the decision in Delaware Supreme Court Holds That Stockholders Need Ordinarily Only Identify a ‘Credible Basis’ for Possible Wrongdoing, Not ‘Actionable Misconduct,’ to Establish a ‘Proper Purpose’ for a Section 220 Books and Records Demand.

Cleary Gottlieb discusses the decision in Delaware Supreme Court Clarifies Section 220’s “Proper Purpose” Test.

$$$ Morris James discusses the decision in Court Clarifies When Books and Records Requests to Investigate Wrongdoing or Mismanagement Have a ‘Proper Purpose’.

Wilson Sonsini discusses the decision in Delaware Supreme Court Issues Key Decision Addressing Stockholders’ Rights to Access Books and Records Under Section 220 of Delaware General Corporation Law.

Francis Pileggi discusses the decision in Supreme Court Rejects Two Common Defenses to Section 220 Demands.

Shearman & Sterling discusses the decision in Delaware Supreme Court Clarifies That A Section 220 Demand Is Not Necessarily Required To Establish That Suspected Wrongdoing Is “Actionable”.

$$$ Law360 discusses the decision in No Need To Explain Strategy In Doc Demand, Del. Justices Say.