Investors Can't Access Lennar Docs For FLSA Probe

Law360, Wilmington (October 5, 2012, 3:52 PM EDT) -- A Delaware judge on Friday squashed a shareholder lawsuit demanding that homebuilder Lennar Corp. turn over internal records to feed an investigation of potential Fair Labor Standards Act violations, finding that the pension fund investor offered scant evidence to justify the inquiry.

Vice Chancellor Sam Glasscock handed down a short opinion granting Lennar summary judgment in the case — a so-called Section 220 suit, which is filed after a corporation refuses to voluntarily hand over documents and is often a precursor to derivative claims against a...
To view the full article, register now.