Chancery Nixes Records Suit As Counsel-Driven Effort

Law360, Wilmington (November 13, 2017, 8:46 PM EST) -- The Delaware Chancery Court threw out a books and records demand against specialty plastics maker A. Schulman Inc. on Monday, saying the shareholder who brought the suit merely served to rubber-stamp an action motivated by New York law firm Levi & Korsinsky LLP.

Vice Chancellor J. Travis Laster said in his opinion that shareholder Jack Wilkinson’s testimony showed that the reasons stated in the complaint for wanting to see A. Schulman corporate records were unconnected to Wilkinson’s own reasons and that his participation in the suit...
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