Del. Supreme Court Expands Ltd. Partner Records' Rights
By Rose Krebs (July 13, 2020, 8:20 PM EDT) -- The Delaware Supreme Court on Monday reversed a lower court decision by ruling that investors in a limited partnership venture are entitled to access certain tax records, with two dissenting justices saying the majority's opinion too broadly expands limited partners' right to inspect records.
In a decision from the full five-justice court, the majority ruled that two limited partners of partnerships that invest in venture capital firm Greylock Partners are entitled to tax records from other partners even though the Chancery Court ruled last year that they hadn't shown the documents sought were "necessary and essential" to investigate wrongdoing or conduct...
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