In a closely divided 3–2 decision, the Delaware Supreme Court has added an important nuance to the way courts evaluate books-and-records demands under Section 220 of the Delaware General Corporation Law (DGCL). While the opinion does not upend the existing doctrine, it does introduce a measure of flexibility in connection with such demands, particularly in fast-moving, high-profile situations where the factual record continues to develop after a demand is made.
At its core, the case considers a...
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