DE Supreme Court Upholds Decision in Axcelis, Clarifies Inspection Rights in "Plurality Plus" Voting Context | Practical Law

DE Supreme Court Upholds Decision in Axcelis, Clarifies Inspection Rights in "Plurality Plus" Voting Context | Practical Law

An update on the decision of the Delaware Supreme Court upholding the Chancery Court's decision in City of Westland Police & Fire Retirement System v. Axcelis Technologies, Inc. and clarifying the standard for establishing a "proper purpose" when demanding inspection of books and records under Section 220 of the DGCL when a board has adopted a "plurality plus" voting policy. 

DE Supreme Court Upholds Decision in Axcelis, Clarifies Inspection Rights in "Plurality Plus" Voting Context

by PLC Corporate & Securities
Published on 19 Aug 2010 • Delaware, USA (National/Federal)
An update on the decision of the Delaware Supreme Court upholding the Chancery Court's decision in City of Westland Police & Fire Retirement System v. Axcelis Technologies, Inc. and clarifying the standard for establishing a "proper purpose" when demanding inspection of books and records under Section 220 of the DGCL when a board has adopted a "plurality plus" voting policy.