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Shareholder’s intention to start proxy fight not enough to inspect corporate books

A Delaware court recently held that a stockholder’s disagreement with a business decision of the board of directors and the intention to pursue a bone fide proxy contest is not a “proper purpose” to support a demand to inspect the corporation’s books and records. In their article for Bloomberg Law, Tod Northman and Lauren Lipsyc say the court’s decision clarifies what had been a “murky” legal landscape.

Read the article here.

Category: Boards of Directors, Corporate Governance, Mergers & Acquisitions, Shareholder Activism/Engagement