Juul Says Investor Waived His Right To Inspect Its Books

Law360 (January 9, 2020, 11:16 PM EST) -- Embattled e-cigarette maker Juul asked a Delaware court Thursday to block an investor's demands to inspect its books, arguing in a suit that the minority shareholder waived his right to do so in a stock option agreement.

Investor Daniel Grove served Juul Labs Inc. with a demand for inspection of its books and records and also threatened to sue in California state court to enforce his rights, according to Juul's complaint.

But Juul said Thursday that, years ago, when Grove exercised stock options granted to him as a Juul employee, he "expressly waived his right to seek inspection of JLI's books...

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