Corporate
Oct. 7, 2016
Delaware courts dismiss records actions
Fiduciary duty defendants should consider seeking dismissal of any previously pending books and records action, whether by request to plaintiff or by court order, to obviate the need for a two-front war. By Peter M. Stone, Edward Han and Rachana Fischer
Peter M. Stone
co-chair, Global Securities Litigation
Paul Hastings LLP
litigation
Phone: (650) 320-1800
Email: peterstone@paulhastings.com
Boalt Hall
Delaware courts have long encouraged plaintiffs to seek to inspect the books and records of a corporation pursuant to 8 Del. C. Section 220 prior to bringing a breach of fiduciary duty or other derivative lawsuit. For example, because Rule 23.1 imposes a heightened pleading standard that requires a plaintiff to allege specific facts in making a derivative claim, "[the Delaware Supreme Court] an...
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