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Expert Analysis

New Chancery Guidance On Books And Records Law

By John Schreiber, Thomas Weber and Neha Nigam ( April 19, 2019, 12:15 PM EDT) -- Section 220 of the Delaware General Corporation Law permits a stockholder of a Delaware corporation to obtain certain corporate books and records, provided the stockholder's demand for inspection is made for a "proper purpose" and meets other form and manner requirements. The most common "proper purpose" cited by stockholders is the desire to investigate potential corporate mismanagement, waste or other wrongdoing....

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