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CALIFORNIA CORPORATE & SECURITIES LAW

Court Holds Inspection Statute Does Not Require That Records Be Brought To California

In “The Scope Of Stockholder Inspection In California And Delaware“, I wrote about what a shareholder is entitled to inspect under California’s shareholder inspection statute – Corporations Code Section 1601.  I did not discuss where that inspection must occur, a question addressed yesterday by the California Court of Appeal in Innes v. Diablo Controls, Inc.…

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The Scope Of Stockholder Inspection In California And Delaware

Don’t peek at the statute, and answer the following question: A stockholder of a Delaware corporation has a statutory right to inspect a corporation’s (a) books of account; (b) accounting books and records; or (c) other books and records. If you answered “a”, you would be correct under former Section 3003 of California’s former General…

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Stockholder Inspections Of Delaware Corporations In California

In United Techs. Corp. v. Treppel, 2014 Del. LEXIS 608 (Del. Dec. 23, 2014), the Delaware Supreme Court held that the Court of Chancery had authority to condition a stockholder’s inspection under Section 220 of the Delaware General Corporation Law upon the stockholder’s agreement  that “any claim, dispute, controversy or causes of action . . .…

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Comparing Books And Records Stockholder Inspection Rights In California, Delaware and Nevada

The right of a stockholder to inspect a corporate books and records was originally a common law right. California, Delaware and Nevada have since codified stockholder inspection rights. However, as summarized by the table below, these rights differ significantly amongst the three states. (This table doesn’t address what may be inspected which is a subject…

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