Schering Shareholders Win Access To Board Notes

Law360, New York (August 18, 2010, 3:06 PM EDT) -- A New Jersey appeals court has ruled that shareholders can gain access to the minutes of meetings held by a company's board of directors as long as they can show that they have a “proper purpose” for their request as required under state law.

In a decision issued Tuesday, the Superior Court of New Jersey's Appellate Division interpreted the New Jersey Business Corporations Act as allowing shareholders to examine only portions of the minutes of the board of directors and the executive committee meetings that could...
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