The Court of Chancery, in Dale Riker v. Teucrium Trading, LLC, C.A. No. 2019-0314-AGB, memo. op. (Del. Ch. May 12, 2020), ordered limited inspection of the company’s projections for the coming year for plaintiff’s purpose of valuing his interest, finding audited financials already available to plaintiff provided all other information needed for valuation, and finding plaintiff failed to show a credible basis to suspect wrongdoing as a basis to inspect books and records.
NEW: K&L Gates discusses the decision in Court of Chancery Analyzes Books and Records Claim Under The LLC Act.
Morris James discusses the decision in Court of Chancery Adjudicates Books and Records Request Post-Trial for Delaware LLC.
Francis Pileggi discusses the decision in Books-and-Records Cases: The Fainthearted Need Not Apply.
$$$ Law360 discusses the decision in Ag Fund’s Ex-CEO Loses Most Of Document Bid In Chancery.