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Summaries and analysis of recent Delaware court decisions concerning business-related litigation.
Morris James Blogs
Court Of Chancery Explains Inspection Rights For Subsidiary Wrongdoing
Posted In Books and RecordsOklahoma Firefighters Pension & Retirement System v. Citigroup Inc., C.A. 9587-ML (September 30, 2014) This decision explains when wrongful conduct at a subsidiary is sufficient to warrant inspection of the parent's records to determine if the parent has violated any Caremark duties. At least when there is some basis to infer that the parent had oversight responsibility for the subsidiaries activities in question the very low standard for granting inspection is satisfied.