Chancery Energizes Investor Bids To Probe Corporations
Law360 (January 17, 2020, 6:56 PM EST) -- A ruling by Delaware Vice Chancellor J. Travis Laster has recharged stockholder rights of access to company books and records, beating down AmerisourceBergen Corp.'s efforts to stop an investor probe of opioid-control oversight failures and potentially shoring up cases the plaintiffs bar considered to be at risk.
In a 64-page opinion on Jan. 13, the vice chancellor swept aside company claims that document demands by two employee benefit funds were too broad and lacked a proper purpose under Section 220 of Delaware's general corporation law to justify court-ordered releases. Section 220 allows an investor to seek to compel a company to...
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