Del. Books And Records Ruling Offers 4 Lessons For Cos.
By Jennifer Luz and John Barker (January 22, 2021, 3:36 PM EST) -- A recent decision by the Delaware Supreme Court cemented a trend in Delaware cases granting broad inspection rights to stockholders under Section 220 of the Delaware General Corporation Law and cautioning companies that aggressively defend against stockholder inspection demands.
The Dec. 10, 2020, decision, AmerisourceBergen Corp. v. Lebanon County Employees' Retirement Fund, could have significant impacts on companies responding to broad stockholder books and records demands.
The Delaware Supreme Court narrows defenses to Section 220 inspection demands.
The decision concerns a stockholder demand to inspect books and records of AmerisourceBergen, a publicly traded wholesale distributor of opioid pain medications.
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